EURUSD is bouncing from our Pivot point, potential for a rise
Description
Price is bouncing from our Pivot point of 1.21692, which is in line with our -27% Fibonacci retracement, 88%, 127% fibonacci extension and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 1.22027, in line with a fibonacci confluence. It is noteworthy that price is trending above the moving average, in line with our bullish view.
Pivot: 1.21692
Why we like it:
-27% Fibonacci retracement, 88%, 127% fibonacci extension and horizontal graphical overlap
1st Support: 1.21463
Why we like it:
50% Fibonacci retracement, 61.8%, 100% fibonacci extension and horizontal swing low resistance.
1st Resistance: 1.22027
Why we like it:
-27%, -61.8%, 88% Fibonacci retracement, 161.8% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Price is bouncing from our Pivot point of 1.21692, which is in line with our -27% Fibonacci retracement, 88%, 127% fibonacci extension and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 1.22027, in line with a fibonacci confluence. It is noteworthy that price is trending above the moving average, in line with our bullish view.
Pivot: 1.21692
Why we like it:
-27% Fibonacci retracement, 88%, 127% fibonacci extension and horizontal graphical overlap
1st Support: 1.21463
Why we like it:
50% Fibonacci retracement, 61.8%, 100% fibonacci extension and horizontal swing low resistance.
1st Resistance: 1.22027
Why we like it:
-27%, -61.8%, 88% Fibonacci retracement, 161.8% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
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