#EURUSD approaching pivot, potential for a bounce!
Price is approaching pivot level of 1.18515, which is in line with 23.6% Fibonacci retracement level horizontal overlap support. A reversal from this level may see price take resistance at price 1.19752. This level coincides with -27.2% Fibonacci retracement level. Finally, we can expect price to take support at 1.1783850.0% Fibonacci retracement level . This is further supported by how MACD is holding above the 0 line.
Pivot:
1.18515
Why we like it:
23.6% Fibonacci retracement level horizontal overlap support
1st Support:
1.17838
Why we like it:
50.0% Fibonacci retracement level
1st Resistance:
1.19752
Why we like it:
-27.2% Fibonacci retracement level
Trading FX & CFDs carries high risk.
Pivot:
1.18515
Why we like it:
23.6% Fibonacci retracement level horizontal overlap support
1st Support:
1.17838
Why we like it:
50.0% Fibonacci retracement level
1st Resistance:
1.19752
Why we like it:
-27.2% Fibonacci retracement level
Trading FX & CFDs carries high risk.
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