Price is reacting below our pivot level at 1.17236 which is in line with 38.2% Fibonacci retracement level horizontal overlap resistance & moving average resistance. Price can potentially take support at 1.16504, which is in line with 76.4% Fibonacci extension level. Alternatively, price may rise up to our resistance at 1.17776, which coincides with 78.6% Fibonacci retracement level . This is further supported by how price is holding below the EMA
Pivot:
1.17236
Why we like it:
38.2% Fibonacci retracement levelhorizontal overlap resistance & moving average resistance
1st Support:
1.16504
Why we like it:
76.4% Fibonacci extension level
1st Resistance:
1.17776
Why we like it:
78.6% Fibonacci retracement level
Trading FX & CFDs carries high risk.
Pivot:
1.17236
Why we like it:
38.2% Fibonacci retracement levelhorizontal overlap resistance & moving average resistance
1st Support:
1.16504
Why we like it:
76.4% Fibonacci extension level
1st Resistance:
1.17776
Why we like it:
78.6% Fibonacci retracement level
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.
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.