EURUSD, H4 reversed from our Pivot point, potential for a short.
Price has reversed from our Pivot point at 1.19396, in line with 78.6% Fibonacci retracement , 78.6% fibonacci extension and horizontal graphical area, where we could potentially see a drop from our pivot towards our 1st support level at 1.17539, which is in line with 78.6% fibonacci retracement and 61.8% fibonacci extension . Note that MACD has crossed the signal line, showing bearish pressure, in line with our bearish analysis.
Pivot: 1.19396
Why we like it:
78.6% Fibonacci retracement , 78.6% fibonacci extension and horizontal graphical area
1st Support: 1.17539
Why we like it:
78.6% fibonacci retracement and 61.8% fibonacci extension
1st Resistance: 1.20748
Why we like it:
-61.8%, 127% fibonacci retracement and 127% fibonacci extension .
Trading FX & CFDs carries high risk.
Pivot: 1.19396
Why we like it:
78.6% Fibonacci retracement , 78.6% fibonacci extension and horizontal graphical area
1st Support: 1.17539
Why we like it:
78.6% fibonacci retracement and 61.8% fibonacci extension
1st Resistance: 1.20748
Why we like it:
-61.8%, 127% fibonacci retracement and 127% fibonacci extension .
Trading FX & CFDs carries high risk.
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