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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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.