EURUSD, H4 is approaching our Pivot point, potential for a rise
Price is approaching our Pivot point at 1.21419, in line with 100% Fibonacci extension and horizontal graphical overlap, where we could potentially see a rise from our pivot towards our 1st resistance level at 1.21952, which is in line with 161.8% fibonacci extension and 127% fibonacci retracement. Note that price is trending above the Ichimoku cloud support and MACD is above the 0 line, in line with our bullish analysis.
Pivot: 1.21419
Why we like it:
100% Fibonacci extension and horizontal graphical overlap
1st Support: 1.21059
Why we like it:
61.8% fibonacci retracement and 61.8% fibonacci extension
1st Resistance: 1.21952
Why we like it:
161.8% fibonacci extension and 127% fibonacci retracement
Trading FX & CFDs carries high risk.
Pivot: 1.21419
Why we like it:
100% Fibonacci extension and horizontal graphical overlap
1st Support: 1.21059
Why we like it:
61.8% fibonacci retracement and 61.8% fibonacci extension
1st Resistance: 1.21952
Why we like it:
161.8% fibonacci extension and 127% fibonacci retracement
Trading FX & CFDs carries high risk.
Penafian
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