#EURUSD approaching pivot, potential for a rise!
Description
Price has broken above our pivot level at 1.1569 which is in line with horizontal overlap support, 38.2% Fibonacci extension level . We could potentially see a further rise from here towards 1.15892, which coincides with 50.0% Fibonacci retracement levelhorizontal overlap resistance. Finally, we can expect price to take support at 1.15591, which coincides with 61.8% Fibonacci retracement levelhorizontal overlap support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1.15690
Why we like it:
horizontal overlap support, 38.2% Fibonacci extension level
1st Support:
1.15591
Why we like it:
61.8% Fibonacci retracement levelhorizontal overlap support
1st Resistance:
1.15892
Why we like it:
50.0% Fibonacci retracement levelhorizontal overlap resistance
Trading FX & CFDs carries high risk.
Price has broken above our pivot level at 1.1569 which is in line with horizontal overlap support, 38.2% Fibonacci extension level . We could potentially see a further rise from here towards 1.15892, which coincides with 50.0% Fibonacci retracement levelhorizontal overlap resistance. Finally, we can expect price to take support at 1.15591, which coincides with 61.8% Fibonacci retracement levelhorizontal overlap support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1.15690
Why we like it:
horizontal overlap support, 38.2% Fibonacci extension level
1st Support:
1.15591
Why we like it:
61.8% Fibonacci retracement levelhorizontal overlap support
1st Resistance:
1.15892
Why we like it:
50.0% Fibonacci retracement levelhorizontal overlap 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.