EURUSD, H4 testing our Pivot point, potential for a bounce.
Description
Price is testing our Pivot point of 1.21230, which is in line with our 50%, 61.8% Fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 1.21876, in line with a fibonacci confluence. It is noteworthy that price is trending within a bullish channel, in line with our bullish view.
Pivot: 1.21230
Why we like it:
50%, 61.8% Fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
1st Support: 1.20896
Why we like it:
78.6%, 88% Fibonacci retracement, 127% fibonacci extension and horizontal swing low resistance.
1st Resistance: 1.21876
Why we like it:
-27% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Price is testing our Pivot point of 1.21230, which is in line with our 50%, 61.8% Fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 1.21876, in line with a fibonacci confluence. It is noteworthy that price is trending within a bullish channel, in line with our bullish view.
Pivot: 1.21230
Why we like it:
50%, 61.8% Fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
1st Support: 1.20896
Why we like it:
78.6%, 88% Fibonacci retracement, 127% fibonacci extension and horizontal swing low resistance.
1st Resistance: 1.21876
Why we like it:
-27% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
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