#EURUSD, H4 is returning to our pivot, potential for drop.
Description
Price is approaching our pivot level at 1.1862 which is in line with 61.8% Fibonacci retracement level, 61.8% Fibonacci extension level and moving average. Price can potentially take support at 1.1792, which is in line with -27.2%Fibonacci retracement level, 61.8% Fibonacci extension level. Alternatively, price may rise up to our resistance at 1.19122, which coincides with 61.8% Fibonacci retracement level, 78.6% Fibonacci extension level . This is further supported by how price is holding below the EMA
Pivot:
1.18620
Why we like it:
61.8% Fibonacci retracement level, 61.8% Fibonacci extension level and moving average
1st Support:
1.1792
-27.2%Fibonacci retracement level, 61.8% Fibonacci extension level
1st Resistance:
1.19612
61.8% Fibonacci retracement level, 78.6% Fibonacci extension level
Trading FX & CFDs carries high risk.
Price is approaching our pivot level at 1.1862 which is in line with 61.8% Fibonacci retracement level, 61.8% Fibonacci extension level and moving average. Price can potentially take support at 1.1792, which is in line with -27.2%Fibonacci retracement level, 61.8% Fibonacci extension level. Alternatively, price may rise up to our resistance at 1.19122, which coincides with 61.8% Fibonacci retracement level, 78.6% Fibonacci extension level . This is further supported by how price is holding below the EMA
Pivot:
1.18620
Why we like it:
61.8% Fibonacci retracement level, 61.8% Fibonacci extension level and moving average
1st Support:
1.1792
-27.2%Fibonacci retracement level, 61.8% Fibonacci extension level
1st Resistance:
1.19612
61.8% Fibonacci retracement level, 78.6% Fibonacci extension level
Trading FX & CFDs carries high risk.
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