#EURUSD approaching pivot, potential for a rise!
Description
Price has broken above our pivot level at 1.13869 which is in line with horizontal overlap support, 23.6% Fibonacci retracement level . We could potentially see a further rise from here towards 1.14756, which coincides with 161.8% Fibonacci extension level and horizontal swing high resistance. Alternatively, we may see price drop to 1st support at 1.13185, which coincides with horizontal swing low support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1.13869
Why we like it:
horizontal overlap support, 23.6% Fibonacci retracement level
1st Support:
1.13185
Why we like it:
horizontal swing low support
1st Resistance:
1.14756
Why we like it:
161.8% Fibonacci extension level and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price has broken above our pivot level at 1.13869 which is in line with horizontal overlap support, 23.6% Fibonacci retracement level . We could potentially see a further rise from here towards 1.14756, which coincides with 161.8% Fibonacci extension level and horizontal swing high resistance. Alternatively, we may see price drop to 1st support at 1.13185, which coincides with horizontal swing low support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1.13869
Why we like it:
horizontal overlap support, 23.6% Fibonacci retracement level
1st Support:
1.13185
Why we like it:
horizontal swing low support
1st Resistance:
1.14756
Why we like it:
161.8% Fibonacci extension level and horizontal swing high resistance
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.