Euro / U.S. DollarShort
EURUSD, H4 is approaching our Pivot point, potential for a drop
Price is approaching our Pivot point at 1.19728, in line with 38.2% Fibonacci retracement, 61.8%, 61.8% fibonacci extension, and horizontal graphical area, where we could potentially see a drop from our pivot towards our 1st support level at 1.18725, which is in line with 78.6%, -27% Fibonacci retracement and 100% fibonacci extension level. Note that price is trending under the Ichimoku cloud and MACD is below the 0 line, in line with our analysis.
Pivot: 1.19728
Why we like it:
38.2% Fibonacci retracement, 61.8%, 61.8% fibonacci extension, and horizontal graphical area
1st Support: 1.18725
Why we like it:
78.6%, -27% Fibonacci retracement and 100% fibonacci extension level
1st Resistance: 1.20253
Why we like it:
61.8%, 78.6% Fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Pivot: 1.19728
Why we like it:
38.2% Fibonacci retracement, 61.8%, 61.8% fibonacci extension, and horizontal graphical area
1st Support: 1.18725
Why we like it:
78.6%, -27% Fibonacci retracement and 100% fibonacci extension level
1st Resistance: 1.20253
Why we like it:
61.8%, 78.6% Fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap.
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.