Description:
Price is showing a bearish breakout at our pivot of 1.21488, which is a fibonacci confluence level. A further drop from our pivot at 1.21488 towards 1st support and the descending trendline at 1.22133 could be possible. Otherwise, a break under the pivot should see price swing towards 1st support at 1.21350. Its noteworthy that price is trending under a descending trendline and Ichimoku cloud in line with our bearish view.
Pivot: 1.22262
Supporting Points:
78.6%, 127% fibonacci retracement, 88%, 127% Fibonacci extension and horizontal graphical area.
1st Support: 1.21350
Supporting Points:
-27%, 161.8% Fibonacci retracement and 100% Fibonacci extension.
1st Resistance: 1.21919
Supporting Points:
61.8%, 88%, -27% fibonacci retracement, 161.8% Fibonacci extension and horizontal graphical area.
Trading FX & CFDs carries high risk.
Price is showing a bearish breakout at our pivot of 1.21488, which is a fibonacci confluence level. A further drop from our pivot at 1.21488 towards 1st support and the descending trendline at 1.22133 could be possible. Otherwise, a break under the pivot should see price swing towards 1st support at 1.21350. Its noteworthy that price is trending under a descending trendline and Ichimoku cloud in line with our bearish view.
Pivot: 1.22262
Supporting Points:
78.6%, 127% fibonacci retracement, 88%, 127% Fibonacci extension and horizontal graphical area.
1st Support: 1.21350
Supporting Points:
-27%, 161.8% Fibonacci retracement and 100% Fibonacci extension.
1st Resistance: 1.21919
Supporting Points:
61.8%, 88%, -27% fibonacci retracement, 161.8% Fibonacci extension and horizontal graphical area.
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.