Type : Bullish Pressure
Resistance : 4.8270
Pivot: 4.7060
Support : 4.6830
Preferred Case: Price is near pivot level of 4.7060 in line with 61.8% Fibonacci retracement . Price can potentially rise up to the 1st resistance level at 4.8120, in line with 138.2% Fibonacci extension and 61.8% Fibonacci projection . Our bullish bias is further supported by the stochastic indicator where it is at support level .
Alternative scenario: Price might also dip towards the 1st support level of 4.6830 in line 78.6% Fibonacci retracement and 78.6% Fibonacci projection .
Resistance : 4.8270
Pivot: 4.7060
Support : 4.6830
Preferred Case: Price is near pivot level of 4.7060 in line with 61.8% Fibonacci retracement . Price can potentially rise up to the 1st resistance level at 4.8120, in line with 138.2% Fibonacci extension and 61.8% Fibonacci projection . Our bullish bias is further supported by the stochastic indicator where it is at support level .
Alternative scenario: Price might also dip towards the 1st support level of 4.6830 in line 78.6% Fibonacci retracement and 78.6% Fibonacci projection .
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.