Description Price is approaching our Pivot point at 1845.98 which is in line with our 78.6% Fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap. We could potentially see price drop from our Pivot point towards our 1st support level at 1825.46, which is in line with -27% fibonacci retracement, 127% fibonacci extension and horizontal swing low support. It is worth noting that price is under the Ichimoku cloud and MACD is below the 0-line.
Pivot: 1845.98 Why we like it: 78.6% Fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Support: 1825.46 Why we like it: -27% fibonacci retracement, 127% fibonacci extension and horizontal swing low support
1st Resistance: 1861.09 Why we like it: 88% fibonacci retracement, 200% fibonacci extension and horizontal graphical resistance. Trading FX & CFDs carries high risk.
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