#EURUSD approaching pivot, potential for a rise!
Description
Price has broken above our pivot level at 1.16393 which is in line with 50.0% Fibonacci retracement levelhorizontal overlap support . We could potentially see a further rise from here towards 1.16872, which coincides with horizontal swing high resistance, 127.2% Fibonacci extension level. Finally, we can expect price to take support at 1.1619, which coincides with 38.2% Fibonacci retracement levelhorizontal overlap support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1.16393
Why we like it:
50.0% Fibonacci retracement levelhorizontal overlap support
1st Support:
1.16190
Why we like it:
38.2% Fibonacci retracement levelhorizontal overlap support
1st Resistance:
1.16872
Why we like it:
horizontal swing high resistance, 127.2% Fibonacci extension level
Trading FX & CFDs carries high risk.
Price has broken above our pivot level at 1.16393 which is in line with 50.0% Fibonacci retracement levelhorizontal overlap support . We could potentially see a further rise from here towards 1.16872, which coincides with horizontal swing high resistance, 127.2% Fibonacci extension level. Finally, we can expect price to take support at 1.1619, which coincides with 38.2% Fibonacci retracement levelhorizontal overlap support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1.16393
Why we like it:
50.0% Fibonacci retracement levelhorizontal overlap support
1st Support:
1.16190
Why we like it:
38.2% Fibonacci retracement levelhorizontal overlap support
1st Resistance:
1.16872
Why we like it:
horizontal swing high resistance, 127.2% Fibonacci extension level
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.