EURUSD, H4 testing our Pivot point, potential for drop.
Price is testing our Pivot point at 1.21388, in line with 100%, 127% Fibonacci extension, 78.6% fibonacci retracement, descending trendline resistance and horizontal graphical area, where we could potentially see a drop from our pivot towards our 1st support level at 1.20379.
Pivot: 1.21388
Why we like it:
100%, 127% Fibonacci extension, 78.6% fibonacci retracement, descending trendline resistance and horizontal graphical area
1st Support: 1.20379
Why we like it:
61.8% Fibonacci retracement, 61.8% Fibonacci extension and horizontal graphical overlap.
1st Resistance: 1.21363
Why we like it:
-27% Fibonacci retracement, 161.8% Fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Pivot: 1.21388
Why we like it:
100%, 127% Fibonacci extension, 78.6% fibonacci retracement, descending trendline resistance and horizontal graphical area
1st Support: 1.20379
Why we like it:
61.8% Fibonacci retracement, 61.8% Fibonacci extension and horizontal graphical overlap.
1st Resistance: 1.21363
Why we like it:
-27% Fibonacci retracement, 161.8% Fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
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