#EURUSD approaching pivot, potential for a bounce!
Price is approaching our pivot level at 1.17681 which is in line with 38.2% Fibonacci retracement level, horizontal overlap support & moving average support. Price can potentially bounce to resistance at 1.18267, which is in line with 61.8% Fibonacci retracement level and 78.6% Fibonacci extension level.
Alternatively, price may drop to our support at 1.17449, which coincides with 61.8% Fibonacci retracement level and 100% Fibonacci extension level.
Pivot:
1.17681
Why we like it:
38.2% Fibonacci retracement level, horizontal overlap support & moving average support
1st Support:
1.17449
Why we like it:
61.8% Fibonacci retracement level and 100% Fibonacci extension level
1st Resistance:
1.18267
Why we like it:
61.8% Fibonacci retracement level and 78.6% Fibonacci extension level.
Trading FX & CFDs carries high risk.
Alternatively, price may drop to our support at 1.17449, which coincides with 61.8% Fibonacci retracement level and 100% Fibonacci extension level.
Pivot:
1.17681
Why we like it:
38.2% Fibonacci retracement level, horizontal overlap support & moving average support
1st Support:
1.17449
Why we like it:
61.8% Fibonacci retracement level and 100% Fibonacci extension level
1st Resistance:
1.18267
Why we like it:
61.8% Fibonacci retracement level and 78.6% Fibonacci extension level.
Trading FX & CFDs carries high risk.
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