#NZDUSD, H4 is reversing from our Pivot. Potential for a drop.
Price is reversing from our Pivot point of 0.70748, which is in line with 61.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap. A potential drop from here towards our first support level of 0.69790, in line with the 61.8% fibonacci retracement, 38.2% fibonacci extension and horizontal graphical overlap. Do note that price is under the Ichimoku cloud and descending trendline, Stochastics is showing bearish pressure where price have previously reversed from 86%.
Description:
Pivot: 0.70748
Why we like it:
61.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Support: 0.69790
Why we like it:
61.8% fibonacci retracement, 38.2% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.71299
Why we like it:
88.6% fibonacci retracement, 161.8% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Description:
Pivot: 0.70748
Why we like it:
61.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Support: 0.69790
Why we like it:
61.8% fibonacci retracement, 38.2% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.71299
Why we like it:
88.6% fibonacci retracement, 161.8% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
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.