Price is consolidating above our pivot level at 1,807.42 which is in line with 38.2% Fibonacci retracement level and 50MA. Price could potentially swing towards resistance at 1,838, which coincides with -61.8% Fibonacci retracement level, 78.6% Fibonacci extension level and trendline resistance. Stochastic is also coming into ascending trendline support for further upside.
Alternatively, price may drop to our support at 1,783.40, which is in-line with 38.2% Fibonacci retracement level, 100% Fibonacci extension level and ascending trendline support.
Pivot:
1,807.42
Why we like it:
38.2% Fibonacci retracement level and 50MA
1st Support:
1,783.40
38.2% Fibonacci retracement level, 100% Fibonacci extension level and ascending trendline support
1st Resistance:
1,838
-61.8% Fibonacci retracement level, 78.6% Fibonacci extension level and trendline resistance
Trading FX & CFDs carries high risk
Alternatively, price may drop to our support at 1,783.40, which is in-line with 38.2% Fibonacci retracement level, 100% Fibonacci extension level and ascending trendline support.
Pivot:
1,807.42
Why we like it:
38.2% Fibonacci retracement level and 50MA
1st Support:
1,783.40
38.2% Fibonacci retracement level, 100% Fibonacci extension level and ascending trendline support
1st Resistance:
1,838
-61.8% Fibonacci retracement level, 78.6% Fibonacci extension level and trendline resistance
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.