#EURUSD approaching pivot, potential for a bounce!
Price is approaching pivot level of 1.18053, which is in line with 38.2% Fibonacci retracement level horizontal swing low support. A reversal from this level may see price take resistance at price 1.19087. This level coincides with horizontal swing high resistance. Finally, we can expect price to take support at 1.177950.0% Fibonacci retracement level horizontal overlap support . This is further supported by how price is likely to bounce off the Stochastic support level .
Pivot:
1.18053
Why we like it:
38.2% Fibonacci retracement level horizontal swing low support
1st Support:
1.17790
Why we like it:
50.0% Fibonacci retracement level horizontal overlap support
1st Resistance:
1.19087
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot:
1.18053
Why we like it:
38.2% Fibonacci retracement level horizontal swing low support
1st Support:
1.17790
Why we like it:
50.0% Fibonacci retracement level horizontal overlap support
1st Resistance:
1.19087
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
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