#EURUSD, H4 bounced from Pivot, potential for rise!
Price has broken above our pivot level at 1.18696 which is in line with 61.8% Fibonacci retracement level, 127.2% Fibonacci extension levelhorizontal overlap support . We could potentially see a further rise from here towards 1.19016, which coincides with -27.2%Fibonacci retracement level, 100% Fibonacci extension level & horizontal swing high resistance. Finally, we can expect price to take support at 1.18263, which coincides with 127.2% Fibonacci extension level & horizontal swing low support . This is further supported by how price is now holding above the EMA .
Pivot:
1.18696
Why we like it:
61.8% Fibonacci retracement level, 127.2% Fibonacci extension levelhorizontal overlap support
1st Support:
1.18263
127.2% Fibonacci extension level & horizontal swing low support
1st Resistance:
1.19016
-27.2%Fibonacci retracement level, 100% Fibonacci extension level & horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot:
1.18696
Why we like it:
61.8% Fibonacci retracement level, 127.2% Fibonacci extension levelhorizontal overlap support
1st Support:
1.18263
127.2% Fibonacci extension level & horizontal swing low support
1st Resistance:
1.19016
-27.2%Fibonacci retracement level, 100% Fibonacci extension level & horizontal swing high resistance
Trading FX & CFDs carries high risk.
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