Description
Price is approaching pivot level of 1.18 where we have 50.0% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal overlap resistance lining up. A reversal from this level might see price take support at 1.17518, which is in line with 61.8% Fibonacci extension level & horizontal swing low support. Finally, price is unlikely to surpass our strong resistance at 1.18306, which coincides with 78.6% Fibonacci retracement level & 127.2% Fibonacci extension level . This is further supported by how price is now holding below the Ichimoku cloud resistance.
Pivot:
1.18000
Why we like it:
50.0% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal overlap resistance
1st Support:
1.17518
61.8% Fibonacci extension level & horizontal swing low support
1st Resistance:
1.18306
78.6% Fibonacci retracement level & 127.2% Fibonacci extension level
Trading FX & CFDs carries high risk.
Price is approaching pivot level of 1.18 where we have 50.0% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal overlap resistance lining up. A reversal from this level might see price take support at 1.17518, which is in line with 61.8% Fibonacci extension level & horizontal swing low support. Finally, price is unlikely to surpass our strong resistance at 1.18306, which coincides with 78.6% Fibonacci retracement level & 127.2% Fibonacci extension level . This is further supported by how price is now holding below the Ichimoku cloud resistance.
Pivot:
1.18000
Why we like it:
50.0% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal overlap resistance
1st Support:
1.17518
61.8% Fibonacci extension level & horizontal swing low support
1st Resistance:
1.18306
78.6% Fibonacci retracement level & 127.2% 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.