#EURUSD approaching pivot, potential for a drop!
Price is reacting below our pivot level at 1.17502 which is in line with 61.8% Fibonacci retracement level horizontal swing high resistance. Price can potentially take support at 1.116835, which is in line with horizontal swing low support. Alternatively, price may rise up to our resistance at 1.17889, which coincides with 50.0% Fibonacci retracement level horizontal overlap resistance . This is further supported by how price is holding below the EMA
Pivot:
1.17502
Why we like it:
61.8% Fibonacci retracement level horizontal swing high resistance
1st Support:
1.11684
Why we like it:
horizontal swing low support
1st Resistance:
1.17889
Why we like it:
50.0% Fibonacci retracement level horizontal overlap resistance
Trading FX & CFDs carries high risk.
Pivot:
1.17502
Why we like it:
61.8% Fibonacci retracement level horizontal swing high resistance
1st Support:
1.11684
Why we like it:
horizontal swing low support
1st Resistance:
1.17889
Why we like it:
50.0% Fibonacci retracement level horizontal overlap resistance
Trading FX & CFDs carries high risk.
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