Price is reversing from our Pivot at 1.28546 and is holding under a fibonacci confluence zone and moving average. We see a medium probability bearish scenario for a drop below the pivot towards 1st support at 1.28163 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 1.28876.
Pivot: 1.28546
Supporting Points:
38.2%, 78.6% Fibonacci retracement, 50% Fibonacci extension and horizontal graphical overlap
1st Support: 1.28163
Supporting Points:
78.6% fibonacci extension, 161.8% Fibonacci retracement and horizontal swing low support
1st Resistance: 1.28876
Supporting Points:
61.8% Fibonacci extension, 61.8% fibonacci retracement and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Pivot: 1.28546
Supporting Points:
38.2%, 78.6% Fibonacci retracement, 50% Fibonacci extension and horizontal graphical overlap
1st Support: 1.28163
Supporting Points:
78.6% fibonacci extension, 161.8% Fibonacci retracement and horizontal swing low support
1st Resistance: 1.28876
Supporting Points:
61.8% Fibonacci extension, 61.8% 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.