EURUSD, H4 is testing our Pivot point, potential for a bounce.
Price is testing our Pivot point at 1.20392, in line with 61.8% Fibonacci retracement, 100% fibonacci extension, and horizontal graphical area, where we could potentially see a rise from our pivot towards our 1st resistance level at 1.21172, a fibonacci confluence level. It is noteworthy that Stochastics is showing bullish momentum where price has previously bounced off the 4% level.
Pivot: 1.20392
Why we like it:
61.8% Fibonacci retracement, 100% fibonacci extension, and horizontal graphical area
1st Support: 1.19700
Why we like it:
-27%, 127% Fibonacci retracement, 76.4% fibonacci extension and horizontal swing low support
1st Resistance: 1.21172
Why we like it:
61.8%, 38.2% Fibonacci retracement, 61.8%, 61.8% Fibonacci extension and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot: 1.20392
Why we like it:
61.8% Fibonacci retracement, 100% fibonacci extension, and horizontal graphical area
1st Support: 1.19700
Why we like it:
-27%, 127% Fibonacci retracement, 76.4% fibonacci extension and horizontal swing low support
1st Resistance: 1.21172
Why we like it:
61.8%, 38.2% Fibonacci retracement, 61.8%, 61.8% Fibonacci extension and horizontal swing high resistance
Trading FX & CFDs carries high risk.
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