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.
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.