Description:
Price has bounced from our pivot 0.77765, a fibonacci confluence area. We could see a medium-probability bullish scenario, with 1st support at 0.77488 as a potential target . Otherwise, failure to hold above pivot could see price swing higher towards 1st resistance at 0.78207. It’s noteworthy that price is trending above the moving average and ascending trendline. MACD is also above 0 in line with our bullish view.
Pivot: 0.77765
Supporting Points:
50%, 78.6% fibonacci retracement, 78.6% Fibonacci extension, horizontal graphical overlap and ascending trendline support.
1st Support: 0.77488
Supporting Points:
88%, 127% fibonacci retracement, 127% fibonacci extension and horizontal graphical area
1st Resistance: 0.78207
Supporting Points:
78.6% and 100% fibonacci extension.
Trading FX & CFDs carries high risk.
Price has bounced from our pivot 0.77765, a fibonacci confluence area. We could see a medium-probability bullish scenario, with 1st support at 0.77488 as a potential target . Otherwise, failure to hold above pivot could see price swing higher towards 1st resistance at 0.78207. It’s noteworthy that price is trending above the moving average and ascending trendline. MACD is also above 0 in line with our bullish view.
Pivot: 0.77765
Supporting Points:
50%, 78.6% fibonacci retracement, 78.6% Fibonacci extension, horizontal graphical overlap and ascending trendline support.
1st Support: 0.77488
Supporting Points:
88%, 127% fibonacci retracement, 127% fibonacci extension and horizontal graphical area
1st Resistance: 0.78207
Supporting Points:
78.6% and 100% fibonacci extension.
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.