Description:
Price showed a bullish breakout from our pivot 0.77711, a fibonacci confluence area. We could see a medium-probability bullish scenario, with 1st resistance at 0.78067 as a potential target . Otherwise, failure to hold above pivot could see price swing lower towards 1st support at 0.77473. It’s noteworthy that price is trending above the moving average and ascending trendline.
Pivot: 0.77711
Supporting Points:
50% fibonacci retracement, 78.6% Fibonacci extension, horizontal graphical overlap and moving average support
1st Support: 0.77473
Supporting Points:
23.6%, 61.8% fibonacci retracement and ascending trendline support.
1st Resistance: 0.78067
Supporting Points:
88% and -61.8% fibonacci retracement
Trading FX & CFDs carries high risk.
Price showed a bullish breakout from our pivot 0.77711, a fibonacci confluence area. We could see a medium-probability bullish scenario, with 1st resistance at 0.78067 as a potential target . Otherwise, failure to hold above pivot could see price swing lower towards 1st support at 0.77473. It’s noteworthy that price is trending above the moving average and ascending trendline.
Pivot: 0.77711
Supporting Points:
50% fibonacci retracement, 78.6% Fibonacci extension, horizontal graphical overlap and moving average support
1st Support: 0.77473
Supporting Points:
23.6%, 61.8% fibonacci retracement and ascending trendline support.
1st Resistance: 0.78067
Supporting Points:
88% 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.