EURUSD, H4 bounced from our Pivot point, potential for a rise.
Price has bounced from our Pivot point at 1.17653, in line with 78.6% Fibonacci retracement and 78.6% fibonacci extension, where we could potentially see a rise from our pivot towards our 1st resistance level at 1.18192, which is in line with 61.8%, 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. Note that price is under the ichimoku cloud, in line with our bearish analysis.
Pivot: 1.17653
Why we like it:
78.6% Fibonacci retracement and 78.6% fibonacci extension
1st Support: 1.17214
Why we like it:
-61.8% fibonacci retracement and 100% fibonacci extension
1st Resistance: 1.18192
Why we like it:
61.8%, 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Pivot: 1.17653
Why we like it:
78.6% Fibonacci retracement and 78.6% fibonacci extension
1st Support: 1.17214
Why we like it:
-61.8% fibonacci retracement and 100% fibonacci extension
1st Resistance: 1.18192
Why we like it:
61.8%, 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
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