#EURUSD, approaching our pivot point. Potential for a drop.
Description:
Price is approaching our pivot point of 1.22435, which is a fibonacci confluence level and where the descending trendline resistance is. A drop from our pivot at 1.22435 towards 1st support at 1.22084 could be possible. Otherwise, a break above the pivot should see price swing towards 1st resistance at 1.22642. Note that price is trending within a triangular squeeze and take profit should be adjusted accordingly.
Pivot: 1.22435
Supporting Points:
-27%, 161.8%, -27% fibonacci retracement, 100% Fibonacci extension level and descending trendline resistance
1st Support: 1.22084
Supporting Points:
50%, 76.4% Fibonacci retracement and horizontal graphical overlap.
1st Resistance: 1.22642
Supporting Points:
61.8%, 88% Fibonacci extension and Horizontal graphical swing high resistance.
Trading FX & CFDs carries high risk.
Description:
Price is approaching our pivot point of 1.22435, which is a fibonacci confluence level and where the descending trendline resistance is. A drop from our pivot at 1.22435 towards 1st support at 1.22084 could be possible. Otherwise, a break above the pivot should see price swing towards 1st resistance at 1.22642. Note that price is trending within a triangular squeeze and take profit should be adjusted accordingly.
Pivot: 1.22435
Supporting Points:
-27%, 161.8%, -27% fibonacci retracement, 100% Fibonacci extension level and descending trendline resistance
1st Support: 1.22084
Supporting Points:
50%, 76.4% Fibonacci retracement and horizontal graphical overlap.
1st Resistance: 1.22642
Supporting Points:
61.8%, 88% Fibonacci extension and Horizontal graphical 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.