NZDUSD, H4 is testing our Pivot. Potential for a drop.
Price is testing our Pivot point of 0.72398, which is in line with 127% Fibonacci retracement, 200% fibonacci extension and horizontal graphical overlap. A potential drop from here towards our first support level of 0.71973, in line with the 78.6%, 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal swing low. Do note that stochastics is showing bearish pressure where it reversed from the 91% level previously.
Description:
Pivot: 0.72398
Why we like it:
127% Fibonacci retracement, 200% fibonacci extension and horizontal graphical overlap
1st Support: 0.71973
Why we like it:
78.6%, 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal swing low
1st Resistance: 0.72749
Why we like it:
161.8% fibonacci retracement and horizontal swing high.
Trading FX & CFDs carries high risk.
Description:
Pivot: 0.72398
Why we like it:
127% Fibonacci retracement, 200% fibonacci extension and horizontal graphical overlap
1st Support: 0.71973
Why we like it:
78.6%, 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal swing low
1st Resistance: 0.72749
Why we like it:
161.8% fibonacci retracement and horizontal swing high.
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.