Description:
Despite price reversing, it is still holding above moving average with MACD indicator still above 0, showing room for possible further bullish momentum. We see a medium probability bullish scenario above our pivot at 0.73930 for price to bounce above towards recent swing high at 1st resistance at 0.74365. Otherwise, should price break below Pivot, a drop towards 1st support and recent swing low at 0.73515 could be possible.
Pivot: 0.73930
Supporting Points:
50% Fibonacci retracement, Graphical overlap support, Moving average support
1st Support: 0.73515
Supporting Points:
Graphical swing low
1st Resistance: 0.74365
Supporting Points:
Graphical swing high
Trading FX & CFDs carries high risk.
Despite price reversing, it is still holding above moving average with MACD indicator still above 0, showing room for possible further bullish momentum. We see a medium probability bullish scenario above our pivot at 0.73930 for price to bounce above towards recent swing high at 1st resistance at 0.74365. Otherwise, should price break below Pivot, a drop towards 1st support and recent swing low at 0.73515 could be possible.
Pivot: 0.73930
Supporting Points:
50% Fibonacci retracement, Graphical overlap support, Moving average support
1st Support: 0.73515
Supporting Points:
Graphical swing low
1st Resistance: 0.74365
Supporting Points:
Graphical 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.