#EURUSD, H4 is above our Pivot point, potential for a rise.
Price is above our Pivot point at 1.22042, in line with 50% fibonacci retracement, 61.8% Fibonacci extension and horizontal graphical overlap, where we could potentially see a rise from our pivot towards our 1st resistance level at 1.22503, which is in line with 100%, 127% fibonacci extension and horizontal swing high resistance. Note that price is trending above the Ichimoku cloud support, in line with our bullish analysis.
Pivot: 1.22042
Why we like it:
50% fibonacci retracement, 61.8% Fibonacci extension and horizontal graphical overlap
1st Support: 1.21718
Why we like it:
61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap.
1st Resistance: 1.22503
Why we like it:
100%, 127% fibonacci extension and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot: 1.22042
Why we like it:
50% fibonacci retracement, 61.8% Fibonacci extension and horizontal graphical overlap
1st Support: 1.21718
Why we like it:
61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap.
1st Resistance: 1.22503
Why we like it:
100%, 127% fibonacci extension and horizontal swing high resistance
Trading FX & CFDs carries high risk.
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