Description
Price is approaching pivot level of 1.15613 where we have 161.8% Fibonacci extension level, 78.6% Fibonacci retracement level & horizontal overlap resistance lining up. A reversal from this level might see price take support at 1.15336, which is in line with 161.8% Fibonacci retracement levelhorizontal overlap support. Finally, price is unlikely to surpass our strong resistance at 1.15855, which coincides with 200% Fibonacci extension levelhorizontal overlap support . This is further supported by how price is now holding below the Ichimoku cloud resistance.
Pivot:
1.15613
Why we like it:
161.8% Fibonacci extension level, 78.6% Fibonacci retracement level & horizontal overlap resistance
1st Support:
1.15336
Why we like it:
161.8% Fibonacci retracement levelhorizontal overlap support
1st Resistance:
1.15855
Why we like it:
200% Fibonacci extension levelhorizontal overlap support
Trading FX & CFDs carries high risk.
Price is approaching pivot level of 1.15613 where we have 161.8% Fibonacci extension level, 78.6% Fibonacci retracement level & horizontal overlap resistance lining up. A reversal from this level might see price take support at 1.15336, which is in line with 161.8% Fibonacci retracement levelhorizontal overlap support. Finally, price is unlikely to surpass our strong resistance at 1.15855, which coincides with 200% Fibonacci extension levelhorizontal overlap support . This is further supported by how price is now holding below the Ichimoku cloud resistance.
Pivot:
1.15613
Why we like it:
161.8% Fibonacci extension level, 78.6% Fibonacci retracement level & horizontal overlap resistance
1st Support:
1.15336
Why we like it:
161.8% Fibonacci retracement levelhorizontal overlap support
1st Resistance:
1.15855
Why we like it:
200% Fibonacci extension levelhorizontal overlap support
Trading FX & CFDs carries high risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.