Description
Price is reacting below our pivot level at 109.719 which is in line with 61.8% Fibonacci retracement level, 78.6% Fibonacci retracement level & horizontal swing low support. Price can potentially take support at 108.976, which is in line with 127.2% Fibonacci extension level & horizontal swing low support. Alternatively, price may rise up to our resistance at 110.598, which coincides with 61.8% Fibonacci extension level & horizontal swing high resistance . This is further supported by how price is now holding below the Ichimoku cloud resistance.
Pivot:
109.719
Why we like it:
61.8% Fibonacci retracement level, 78.6% Fibonacci retracement level & horizontal swing low support
1st Support:
108.976
127.2% Fibonacci extension level & horizontal swing low support
1st Resistance:
110.598
61.8% Fibonacci extension level & horizontal swing high resistance
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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.