Description:
Price is reversing from our Pivot at 1.28605 and is holding under a fibonacci confluence zone and descending trendline. We see a medium probability bearish scenario for a drop below the pivot towards 1st support at 1.28164 as a possible target. Otherwise, should price fail to hold under our Pivot, we could see price swing the other way towards our 1st resistance at 1.28902.
Pivot: 1.28605
Supporting Points:
61.8% Fibonacci retracement and 61.8% Fibonacci extension
1st Support: 1.28164
Supporting Points:
78.6% fibonacci extension, -61.8% Fibonacci retracement and horizontal swing low support
1st Resistance: 1.28902
Supporting Points:
100% Fibonacci extension, 61.8%, 127% fibonacci retracement and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price is reversing from our Pivot at 1.28605 and is holding under a fibonacci confluence zone and descending trendline. We see a medium probability bearish scenario for a drop below the pivot towards 1st support at 1.28164 as a possible target. Otherwise, should price fail to hold under our Pivot, we could see price swing the other way towards our 1st resistance at 1.28902.
Pivot: 1.28605
Supporting Points:
61.8% Fibonacci retracement and 61.8% Fibonacci extension
1st Support: 1.28164
Supporting Points:
78.6% fibonacci extension, -61.8% Fibonacci retracement and horizontal swing low support
1st Resistance: 1.28902
Supporting Points:
100% Fibonacci extension, 61.8%, 127% fibonacci retracement and horizontal graphical overlap.
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.