#NZDUSD, H4 approaching our Pivot. Potential for a bounce.
Price is approaching our Pivot point of 0.71280, which is in line with 161.8%, 61.8% fibonacci extension and horizontal swing low. A potential rise from here towards our first resistance level of 0.72238, in line with the 78.6% fibonacci retracement, 61.8%, 127% fibonacci extension and horizontal graphical overlap. Do note that Stochastics is showing bullish pressure where price has previously reversed from 10% level, in line with our bullish analysis.
Description:
Pivot: 0.71280
Why we like it:
161.8%, 61.8% fibonacci extension and horizontal swing low
1st Support: 0.70588
Why we like it:
161.8% fibonacci retracement and 100% fibonacci extension
1st Resistance: 0.72238
Why we like it:
78.6% fibonacci retracement, 61.8%, 127% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Description:
Pivot: 0.71280
Why we like it:
161.8%, 61.8% fibonacci extension and horizontal swing low
1st Support: 0.70588
Why we like it:
161.8% fibonacci retracement and 100% fibonacci extension
1st Resistance: 0.72238
Why we like it:
78.6% fibonacci retracement, 61.8%, 127% 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.