Price is approaching pivot level of 113.723 where we have 23.6% Fibonacci retracement level & horizontal overlap resistance lining up. A reversal from this level might see price take support at 112.051, which is in line with 50.0% Fibonacci retracement level, 200% Fibonacci extension level & horizontal overlap support. Finally, price is unlikely to surpass our strong resistance at 116.21, which coincides with 61.8% Fibonacci retracement level, 61.8% Fibonacci extension level . This is further supported by how price is holding below the EMA.
Pivot:
113.723
Why we like it:
23.6% Fibonacci retracement level & horizontal overlap resistance
1st Support:
112.051
Why we like it:
50.0% Fibonacci retracement level, 200% Fibonacci extension level & horizontal overlap support
1st Resistance:
116.210
Why we like it:
61.8% Fibonacci retracement level, 61.8% Fibonacci extension level
Trading FX & CFDs carries high risk.
Pivot:
113.723
Why we like it:
23.6% Fibonacci retracement level & horizontal overlap resistance
1st Support:
112.051
Why we like it:
50.0% Fibonacci retracement level, 200% Fibonacci extension level & horizontal overlap support
1st Resistance:
116.210
Why we like it:
61.8% Fibonacci retracement level, 61.8% 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.