NZDUSD, H4 bounced off our Pivot point. Potential for rise.
Description:
Price is bouncing off our Pivot point of 0.70849, which is in line with 38.2% Fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap. A bounce from here could see it rise to our first resistance level of 0.71545, in line with 78.6% and 161.8% Fibonacci extension. It is worth noting that price is trending above EMA (89) and Ichimoku cloud, while the MACD is above 0, showing bullish momentum.
Pivot: 0.70849
Why we like it:
38.2% Fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap
1st Support: 0.70346
Why we like it:
78.6% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical overlap
1st Resistance: 0.71545
Why we like it:
78.6% and 161.8% Fibonacci extension
Trading FX & CFDs carries high risk.
Price is bouncing off our Pivot point of 0.70849, which is in line with 38.2% Fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap. A bounce from here could see it rise to our first resistance level of 0.71545, in line with 78.6% and 161.8% Fibonacci extension. It is worth noting that price is trending above EMA (89) and Ichimoku cloud, while the MACD is above 0, showing bullish momentum.
Pivot: 0.70849
Why we like it:
38.2% Fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap
1st Support: 0.70346
Why we like it:
78.6% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical overlap
1st Resistance: 0.71545
Why we like it:
78.6% and 161.8% Fibonacci extension
Trading FX & CFDs carries high risk.
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