#EURUSD, H4 is reversing from our pivot, potential for drop
Price is reversing from our Pivot point at 1.19169, in line with 23.6%, 127% fibonacci retracement, and horizontal overlap, where we could potentially see a push down from our pivot towards our 1st support level at 1.18241, which is in line with 78.6%, 161.8% fibonacci retracement and horizontal graphical overlap. Note that price is under the Ichimoku cloud, in line with our bearish analysis.
Pivot: 1.19169
Why we like it:
23.6%, 127% fibonacci retracement, and horizontal overlap
1st Support: 1.18241
Why we like it:
78.6%, 161.8% fibonacci retracement and horizontal graphical overlap
1st Resistance: 1.19973
Why we like it:
50% fibonacci retracement, 88.6% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Pivot: 1.19169
Why we like it:
23.6%, 127% fibonacci retracement, and horizontal overlap
1st Support: 1.18241
Why we like it:
78.6%, 161.8% fibonacci retracement and horizontal graphical overlap
1st Resistance: 1.19973
Why we like it:
50% fibonacci retracement, 88.6% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
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