NZDUSD, H4 bounced off our Pivot point. Potential for rise.
Description:
Price is bouncing off our Pivot point of 0.70319, which is in line with 61.8% Fibonacci retracement and horizontal graphical overlap. A bounce from here could see it rise to our first resistance level of 0.70689, in line with 61.8% Fibonacci extension and 61.8% Fibonacci retracement. It is worth noting that the Ichimoku Cloud and EMA (55) are both showing bullish momentum, in line with our analysis.
Pivot: 0.70319
Why we like it:
61.8% Fibonacci retracement and horizontal graphical overlap
1st Support: 0.70132
Why we like it:
88% Fibonacci retracement and horizontal graphical overlap
1st Resistance: 0.70689
Why we like it:
61.8% Fibonacci extension and 61.8% Fibonacci retracement
Trading FX & CFDs carries high risk.
Price is bouncing off our Pivot point of 0.70319, which is in line with 61.8% Fibonacci retracement and horizontal graphical overlap. A bounce from here could see it rise to our first resistance level of 0.70689, in line with 61.8% Fibonacci extension and 61.8% Fibonacci retracement. It is worth noting that the Ichimoku Cloud and EMA (55) are both showing bullish momentum, in line with our analysis.
Pivot: 0.70319
Why we like it:
61.8% Fibonacci retracement and horizontal graphical overlap
1st Support: 0.70132
Why we like it:
88% Fibonacci retracement and horizontal graphical overlap
1st Resistance: 0.70689
Why we like it:
61.8% Fibonacci extension and 61.8% Fibonacci retracement
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.