Description
Price is reacting below our pivot level at 1.16896 which is in line with 61.8% Fibonacci retracement level. Price can potentially take support at 1.17196, which is in line with 78.6% Fibonacci retracement level. Alternatively, price may rise up to our resistance at 1.16602, which coincides with horizontal pullback support . This is further supported by how price is likely to reverse off the Stochastic resistance level.
Pivot:
1.16896
Why we like it:
61.8% Fibonacci retracement level
1st Support:
1.17196
Why we like it:
78.6% Fibonacci retracement level
1st Resistance:
1.16602
Why we like it:
horizontal pullback support
Trading FX & CFDs carries high risk.
Price is reacting below our pivot level at 1.16896 which is in line with 61.8% Fibonacci retracement level. Price can potentially take support at 1.17196, which is in line with 78.6% Fibonacci retracement level. Alternatively, price may rise up to our resistance at 1.16602, which coincides with horizontal pullback support . This is further supported by how price is likely to reverse off the Stochastic resistance level.
Pivot:
1.16896
Why we like it:
61.8% Fibonacci retracement level
1st Support:
1.17196
Why we like it:
78.6% Fibonacci retracement level
1st Resistance:
1.16602
Why we like it:
horizontal pullback support
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.