Price is reacting below our pivot level at 0.70445 which is in line with 100% Fibonacci retracement level and 127.2% Fibonacci extension level. Price could potentially drop to support at 0.69685 which coincides with 38.2% Fibonacci retracement level and 61.8% Fibonacci extension level. Stochastic is also forming negative divergence for potential pull-back.
Alternatively, price could potentially swing towards resistance at 0.71310, which coincides with 127.2% Fibonacci retracement level and 161.8% Fibonacci extension level.
Pivot:
0.70445
Why we like it:
100% Fibonacci retracement level and 127.2% Fibonacci extension level
1st Support:
0.69685
38.2% Fibonacci retracement level and 61.8% Fibonacci extension level
1st Resistance:
0.71310
127.2% Fibonacci retracement level and 161.8% Fibonacci extension level
Trading FX & CFDs carries high risk.
Alternatively, price could potentially swing towards resistance at 0.71310, which coincides with 127.2% Fibonacci retracement level and 161.8% Fibonacci extension level.
Pivot:
0.70445
Why we like it:
100% Fibonacci retracement level and 127.2% Fibonacci extension level
1st Support:
0.69685
38.2% Fibonacci retracement level and 61.8% Fibonacci extension level
1st Resistance:
0.71310
127.2% Fibonacci retracement level and 161.8% 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.
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.