#EURUSD facing bearish pressure, potential for further downside!
Description
Price is reacting below our pivot level at 1.19702 which is in line with 38.2% Fibonacci retracement level. Price can potentially take support at 1.18443, which is in line with 50.0% Fibonacci extension level. Alternatively, price may rise up to our resistance at 1.20926, which coincides with 78.6% Fibonacci retracement level . This is further supported by how price is holding below the EMA
Pivot:
1.19702
Why we like it:
38.2% Fibonacci retracement level
1st Support:
1.1844
50.0% Fibonacci extension level
1st Resistance:
1.20926
78.6% Fibonacci retracement level
Trading FX & CFDs carries high risk.
Price is reacting below our pivot level at 1.19702 which is in line with 38.2% Fibonacci retracement level. Price can potentially take support at 1.18443, which is in line with 50.0% Fibonacci extension level. Alternatively, price may rise up to our resistance at 1.20926, which coincides with 78.6% Fibonacci retracement level . This is further supported by how price is holding below the EMA
Pivot:
1.19702
Why we like it:
38.2% Fibonacci retracement level
1st Support:
1.1844
50.0% Fibonacci extension level
1st Resistance:
1.20926
78.6% Fibonacci retracement level
Trading FX & CFDs carries high risk.
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