#EURUSD, H4 is bouncing from our Pivot point, potential for a lo
Price is bouncing from our Pivot point at 1.22092, in line with 23.6% fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap, where we could potentially see a rise from our pivot towards our 1st resistance level at 1.22657, which is in line with 161.8% fibonacci retracement, 61.8% fibonacci extension and horizontal swing high. Note that price is trending above the Ichimoku cloud and MACD is above the 0-line, in line with our bullish analysis.
Pivot: 1.22092
Why we like it:
23.6% fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap
1st Support: 1.21724
Why we like it:
61.8% fibonacci extension, 61.8% fibonacci retracement and horizontal graphical overlap.
1st Resistance: 1.22657
Why we like it:
161.8% fibonacci retracement, 61.8% fibonacci extension and horizontal swing high
Trading FX & CFDs carries high risk.
Pivot: 1.22092
Why we like it:
23.6% fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap
1st Support: 1.21724
Why we like it:
61.8% fibonacci extension, 61.8% fibonacci retracement and horizontal graphical overlap.
1st Resistance: 1.22657
Why we like it:
161.8% fibonacci retracement, 61.8% fibonacci extension and horizontal swing high
Trading FX & CFDs carries high risk.
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