#EURUSD approaching pivot, potential for a rise!
Description
Price has broken above our pivot level at 1.16369 which is in line with horizontal swing low support, 61.8% Fibonacci retracement level . We could potentially see a further rise from here towards 1.16605, which coincides with , 161.8% Fibonacci extension level & horizontal swing high resistance. Finally, we can expect price to take support at 1.16216, which coincides with 78.6% Fibonacci retracement levelhorizontal overlap support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1.16369
Why we like it:
horizontal swing low support, 61.8% Fibonacci retracement level
1st Support:
1.16216
Why we like it:
78.6% Fibonacci retracement levelhorizontal overlap support
1st Resistance:
1.16605
Why we like it:
161.8% Fibonacci extension level & horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price has broken above our pivot level at 1.16369 which is in line with horizontal swing low support, 61.8% Fibonacci retracement level . We could potentially see a further rise from here towards 1.16605, which coincides with , 161.8% Fibonacci extension level & horizontal swing high resistance. Finally, we can expect price to take support at 1.16216, which coincides with 78.6% Fibonacci retracement levelhorizontal overlap support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1.16369
Why we like it:
horizontal swing low support, 61.8% Fibonacci retracement level
1st Support:
1.16216
Why we like it:
78.6% Fibonacci retracement levelhorizontal overlap support
1st Resistance:
1.16605
Why we like it:
161.8% Fibonacci extension level & horizontal swing high resistance
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.