EURUSD, H4 is testing our Pivot point, potential for a drop.
Price is testing our Pivot point at 1.19327, in line with 61.8%, 61.8%, 50% Fibonacci retracement, Ichimoku cloud resistance and horizontal graphical area, where we could potentially see a drop from our pivot towards our 1st support level at 1.18458, which is in line with 61.8%, 161.8%, 161.8% fibonacci extension, and horizontal swing low support. Note that price is attempting to break out of the Ichimoku cloud showing bearish pressure, in line with our analysis.
Pivot: 1.19327
Why we like it:
61.8%, 61.8%, 50% Fibonacci retracement, Ichimoku cloud resistance and horizontal graphical area
1st Support: 1.18458
Why we like it:
61.8%, 161.8%, 161.8% fibonacci extension, and horizontal swing low support
1st Resistance: 1.20075
Why we like it:
78.6%, 161.8% Fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Pivot: 1.19327
Why we like it:
61.8%, 61.8%, 50% Fibonacci retracement, Ichimoku cloud resistance and horizontal graphical area
1st Support: 1.18458
Why we like it:
61.8%, 161.8%, 161.8% fibonacci extension, and horizontal swing low support
1st Resistance: 1.20075
Why we like it:
78.6%, 161.8% Fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
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