EURUSD, H4 is approaching our Pivot point. Potential for a rise!
Description:
Price is approaching our Pivot point at 1.21323, which is in line with our 38.2%, 61.8% Fibonacci Retracement and ascending trendline support. We could potentially see price rise towards our 1st resistance level at 1.22086. It is worth noting that price is currently trending above the Ichimoku cloud, ascending trendline and MACD is above the 0 line, showing bullish pressure in line with our analysis.
Pivot: 1.21323
Why we like it:
38.2%, 61.8% Fibonacci Retracement and ascending trendline support
1st Support: 1.21054
Why we like it:
38.2%, 61.8% Fibonacci Retracement and horizontal overlap support
1st Resistance: 1.22086
Why we like it:
-27%, 127% Fibonacci retracement and 100% Fibonacci extension
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.21323, which is in line with our 38.2%, 61.8% Fibonacci Retracement and ascending trendline support. We could potentially see price rise towards our 1st resistance level at 1.22086. It is worth noting that price is currently trending above the Ichimoku cloud, ascending trendline and MACD is above the 0 line, showing bullish pressure in line with our analysis.
Pivot: 1.21323
Why we like it:
38.2%, 61.8% Fibonacci Retracement and ascending trendline support
1st Support: 1.21054
Why we like it:
38.2%, 61.8% Fibonacci Retracement and horizontal overlap support
1st Resistance: 1.22086
Why we like it:
-27%, 127% Fibonacci retracement and 100% Fibonacci extension
Trading FX & CFDs carries high risk.
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