Price is approaching pivot level of 1.18144 where we have 61.8% Fibonacci retracement level, 78.6% Fibonacci extension level & 78.6% Fibonacci retracement level lining up. A reversal from this level might see price take support at 1.17646, which is in line with 78.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal swing low support. Finally, price is unlikely to surpass our strong resistance at 1.18513, which coincides with 127.2% Fibonacci extension level & horizontal swing high resistance . This is further supported by how price is holding below the descending trendline
Pivot:
1.18144
Why we like it:
61.8% Fibonacci retracement level, 78.6% Fibonacci extension level & 78.6% Fibonacci retracement level
1st Support:
1.17646
78.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal swing low support
1st Resistance:
1.18513
127.2% Fibonacci extension level & horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot:
1.18144
Why we like it:
61.8% Fibonacci retracement level, 78.6% Fibonacci extension level & 78.6% Fibonacci retracement level
1st Support:
1.17646
78.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal swing low support
1st Resistance:
1.18513
127.2% Fibonacci extension level & horizontal swing high resistance
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.