Price is retesting trendline support and approaching pivot level at 1.38775, in-line with 78.6% Fibonacci retracement level, 127.2% Fibonacci extension and horizontal overlap resistance. If price can close above pivot, it may potentially swing towards resistance at 1.39835, in-line with 100% Fibonacci retracement level, 161.8% Fibonacci extension and swing high resistance.
Alternatively, price may drop to support at 1.38100 which is in line with 38.2% Fibonacci retracement, 50 and 200MA.
Pivot:
1.38775
Why we like it:
78.6% Fibonacci retracement level, 127.2% Fibonacci extension and horizontal overlap resistance
1st Support:
1.38100
38.2% Fibonacci retracement, 50 and 200MA
1st Resistance:
1.39835
100% Fibonacci retracement level, 161.8% Fibonacci extension and swing high resistance
Trading FX & CFDs carries high risk.
Alternatively, price may drop to support at 1.38100 which is in line with 38.2% Fibonacci retracement, 50 and 200MA.
Pivot:
1.38775
Why we like it:
78.6% Fibonacci retracement level, 127.2% Fibonacci extension and horizontal overlap resistance
1st Support:
1.38100
38.2% Fibonacci retracement, 50 and 200MA
1st Resistance:
1.39835
100% Fibonacci retracement level, 161.8% Fibonacci extension and 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.