#EURUSD, H4 is testing our Pivot point, potential for a long.
Price is testing our Pivot point at 1.22234, in line with 78.6% fibonacci retracement, 50% Fibonacci extension and horizontal graphical overlap, where we could potentially see a rise from our pivot towards our 1st resistance level at 1.22812, which is in line with -27% fibonacci retracement and 61.8% fibonacci extension. Note that price is trending above the Ichimoku cloud, ascending trendline and MACD is above the 0-line, in line with our bullish analysis.
Pivot: 1.22234
Why we like it:
78.6% fibonacci retracement, 50% Fibonacci extension and horizontal graphical overlap
1st Support: 1.21716
Why we like it:
61.8% fibonacci extension, 61.8% fibonacci retracement and horizontal graphical overlap.
1st Resistance: 1.22812
Why we like it:
-27% fibonacci retracement and 61.8% fibonacci extension
Trading FX & CFDs carries high risk.
Pivot: 1.22234
Why we like it:
78.6% fibonacci retracement, 50% Fibonacci extension and horizontal graphical overlap
1st Support: 1.21716
Why we like it:
61.8% fibonacci extension, 61.8% fibonacci retracement and horizontal graphical overlap.
1st Resistance: 1.22812
Why we like it:
-27% fibonacci retracement and 61.8% fibonacci extension
Trading FX & CFDs carries high risk.
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