Euro / U.S. DollarShort
#EURUSD reacting below pivot, potential for further downside
Price is reacting below pivot level at 1.17490, in-line with 23.6% Fibonacci retracement and 61.8% Fibonacci extension and 20EMA. Price could potentially drop to support at 1.16645, in-line with 100% Fibonacci retracement , 161.8% Fibonacci extension and swing low support. RSI is also at descending trendline resistance where previous drops occurred.
Alternatively, price may bounce to our resistance at 1.17800, in-line with 38.2% Fibonacci retracement and 100% Fibonacci extension .
Pivot:
1.17490
Why we like it:
23.6% Fibonacci retracement and 61.8% Fibonacci extension and 20EMA
1st Support:
1.16645
Why we like it:
100% Fibonacci retracement , 161.8% Fibonacci extension and swing low support
1st Resistance:
1.17800
Why we like it:
38.2% Fibonacci retracement and 100% Fibonacci extension
Trading FX & CFDs carries high risk.
Alternatively, price may bounce to our resistance at 1.17800, in-line with 38.2% Fibonacci retracement and 100% Fibonacci extension .
Pivot:
1.17490
Why we like it:
23.6% Fibonacci retracement and 61.8% Fibonacci extension and 20EMA
1st Support:
1.16645
Why we like it:
100% Fibonacci retracement , 161.8% Fibonacci extension and swing low support
1st Resistance:
1.17800
Why we like it:
38.2% Fibonacci retracement and 100% Fibonacci extension
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.