EURUSD, H4 is bouncing from our Pivot point, potential for a ris

Description
Price is bouncing from our Pivot point of 1.22049, which is in line with our 50% Fibonacci retracement, 78.6% Fibonacci extension, ascending trendline support and horizontal graphical overlap, where we could see a potential rise at this level to our first resistance level of 1.22586, in line with 78.6% Fibonacci extension and -27% fibonacci retracement. It is worth noting that price is trending above the Ichimoku cloud, and an ascending trendline which is showing bullish momentum in line with our analysis.


Pivot: 1.22049
Why we like it:
50% Fibonacci retracement, 78.6% Fibonacci extension, ascending trendline support and horizontal graphical overlap

1st Support: 1.21565
Why we like it:
78.6% Fibonacci retracement and ascending trendline support.

1st Resistance: 1.22586
Why we like it:
78.6% Fibonacci extension and -27% fibonacci retracement
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