Description:
Price reversed from our pivot level where the 76.4% fib retracement and horizontal swing high resistance are. With trendline showing bearish pressure, it is possible to see a medium probability bearish scenario below pivot level, with 1st support at 103.36 as a potential target. Otherwise, failing to break above the pivot would see price swing towards 1st resistance where the 76.4% fib retracement is.
Pivot: 103.626
Supporting Points:
76.4% fib retracement and horizontal swing high resistance
1st Support: 103.363
Supporting Points:
78.6% Fibonacci extension & horizontal swing low
1st Resistance: 103.745
Supporting Points:
76.4% fib retracement
Trading FX & CFDs carries high risk.
Price reversed from our pivot level where the 76.4% fib retracement and horizontal swing high resistance are. With trendline showing bearish pressure, it is possible to see a medium probability bearish scenario below pivot level, with 1st support at 103.36 as a potential target. Otherwise, failing to break above the pivot would see price swing towards 1st resistance where the 76.4% fib retracement is.
Pivot: 103.626
Supporting Points:
76.4% fib retracement and horizontal swing high resistance
1st Support: 103.363
Supporting Points:
78.6% Fibonacci extension & horizontal swing low
1st Resistance: 103.745
Supporting Points:
76.4% fib retracement
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.