#EURUSD approaching pivot, potential for a drop!
Price is reacting below our pivot level at 1.17033 which is in line with 23.6% Fibonacci retracement levelhorizontal swing high resistance. Price can potentially take support at 1.15572, which is in line with horizontal overlap support. Alternatively, price may rise up to our resistance at 1.17554, which coincides with 50.0% Fibonacci retracement levelhorizontal overlap resistance . This is further supported by how price is holding below the EMA
Pivot:
1.17033
Why we like it:
23.6% Fibonacci retracement level horizontal swing high resistance
1st Support:
1.15572
Why we like it:
horizontal overlap support
1st Resistance:
1.17554
Why we like it:
50.0% Fibonacci retracement level horizontal overlap resistance
Trading FX & CFDs carries high risk.
Pivot:
1.17033
Why we like it:
23.6% Fibonacci retracement level horizontal swing high resistance
1st Support:
1.15572
Why we like it:
horizontal overlap support
1st Resistance:
1.17554
Why we like it:
50.0% Fibonacci retracement level horizontal overlap resistance
Trading FX & CFDs carries high risk.
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