#EURUSD approaching pivot, potential for a rise!
Description
Price has broken above our pivot level at 1.16606 which is in line with horizontal overlap support, 161.8% Fibonacci extension level . We could potentially see a further rise from here towards 1.16865, which coincides with horizontal overlap resistance, 161.8% Fibonacci extension level & horizontal swing high resistance. Finally, we can expect price to take support at 1.1645, which coincides with horizontal overlap support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1.16606
Why we like it:
horizontal overlap support, 161.8% Fibonacci extension level
1st Support:
1.16450
Why we like it:
horizontal overlap support
1st Resistance:
1.16865
Why we like it:
horizontal overlap resistance, 161.8% Fibonacci extension level & horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price has broken above our pivot level at 1.16606 which is in line with horizontal overlap support, 161.8% Fibonacci extension level . We could potentially see a further rise from here towards 1.16865, which coincides with horizontal overlap resistance, 161.8% Fibonacci extension level & horizontal swing high resistance. Finally, we can expect price to take support at 1.1645, which coincides with horizontal overlap support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1.16606
Why we like it:
horizontal overlap support, 161.8% Fibonacci extension level
1st Support:
1.16450
Why we like it:
horizontal overlap support
1st Resistance:
1.16865
Why we like it:
horizontal overlap resistance, 161.8% Fibonacci extension level & horizontal swing high resistance
Trading FX & CFDs carries high risk.