#EURUSD approaching pivot, potential for a rise!
Description
Price has broken above our pivot level at 1.12984 which is in line with 38.2% Fibonacci retracement level and horizontal swing low support . We could potentially see a further rise from here towards 1.13828, which coincides with 127.2% Fibonacci extension level and horizontal swing high resistance. Finally, we can expect price to take support at 1.1261, which coincides with 78.6% Fibonacci retracement level and horizontal swing low support . This is further supported by how price is now holding below the Ichimoku cloud resistance.
Pivot:
1.12984
Why we like it:
38.2% Fibonacci retracement level and horizontal swing low support
1st Support:
1.12610
Why we like it:
78.6% Fibonacci retracement level and horizontal swing low support
1st Resistance:
1.13828
Why we like it:
127.2% Fibonacci extension level and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price has broken above our pivot level at 1.12984 which is in line with 38.2% Fibonacci retracement level and horizontal swing low support . We could potentially see a further rise from here towards 1.13828, which coincides with 127.2% Fibonacci extension level and horizontal swing high resistance. Finally, we can expect price to take support at 1.1261, which coincides with 78.6% Fibonacci retracement level and horizontal swing low support . This is further supported by how price is now holding below the Ichimoku cloud resistance.
Pivot:
1.12984
Why we like it:
38.2% Fibonacci retracement level and horizontal swing low support
1st Support:
1.12610
Why we like it:
78.6% Fibonacci retracement level and horizontal swing low support
1st Resistance:
1.13828
Why we like it:
127.2% Fibonacci extension level and horizontal swing high resistance
Trading FX & CFDs carries high risk.