Euro / U.S. DollarShort
#EURUSD approaching pivot, potential for a drop!
Price is reacting below our pivot level at 1.18515 which is in line with 78.6% Fibonacci retracement level. Price can potentially take support at 1.17271, which is in line with 61.8% Fibonacci retracement levelhorizontal overlap support. Alternatively, price may rise up to our resistance at 1.19075, which coincides with horizontal swing high resistance . This is further supported by how price is likely to reverse off the Stochastic resistance level.
Pivot:
1.18515
Why we like it:
78.6% Fibonacci retracement level
1st Support:
1.17271
Why we like it:
61.8% Fibonacci retracement level horizontal overlap support
1st Resistance:
1.19075
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot:
1.18515
Why we like it:
78.6% Fibonacci retracement level
1st Support:
1.17271
Why we like it:
61.8% Fibonacci retracement level horizontal overlap support
1st Resistance:
1.19075
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
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