#EURUSD, H4 is bouncing from our pivot, potential for rise
Price is approaching pivot level of 1.18564, which is in line with 38.2% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal swing low support. A reversal from this level may see price take resistance at price 1.19357. This level coincides with 78.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal swing high resistance. Finally, we can expect price to take support at 1.1823861.8% Fibonacci retracement level, 127.2% Fibonacci extension level . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1.18564
Why we like it:
38.2% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal swing low support
1st Support:
1.18238
61.8% Fibonacci retracement level, 127.2% Fibonacci extension level
1st Resistance:
1.19357
78.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot:
1.18564
Why we like it:
38.2% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal swing low support
1st Support:
1.18238
61.8% Fibonacci retracement level, 127.2% Fibonacci extension level
1st Resistance:
1.19357
78.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal swing high resistance
Trading FX & CFDs carries high risk.
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