Price is consolidating below our pivot level at 1,796.49 which is in line with -27.2% Fibonacci retracement level and 78.6% Fibonacci extension level and horizontal overlap resistance. Price could potentially drop towards support at 1,761.94, in line with 23.6% Fibonacci retracement level , 61.8% Fibonacci extension level and 50MA. Stochastic is also indicating bearish momentum for further downside.
Alternatively, price may bounces to our resistance at 1,815.56, which coincides with -61.8% Fibonacci retracement level and 161.8% Fibonacci extension level.
Pivot:
1,796.49
Why we like it:
-27.2% Fibonacci retracement level and 78.6% Fibonacci extension level and horizontal overlap resistance
1st Support:
1,761.94
23.6% Fibonacci retracement level , 61.8% Fibonacci extension level and 50MA
1st Resistance:
1,815.56
-61.8% Fibonacci retracement level and 161.8% Fibonacci extension level
Trading FX & CFDs carries high risk
Alternatively, price may bounces to our resistance at 1,815.56, which coincides with -61.8% Fibonacci retracement level and 161.8% Fibonacci extension level.
Pivot:
1,796.49
Why we like it:
-27.2% Fibonacci retracement level and 78.6% Fibonacci extension level and horizontal overlap resistance
1st Support:
1,761.94
23.6% Fibonacci retracement level , 61.8% Fibonacci extension level and 50MA
1st Resistance:
1,815.56
-61.8% Fibonacci retracement level and 161.8% Fibonacci extension level
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.