Euro / DollaroShort
EURUSD, H4 testing our Pivot point, potential for bounce drop.
Price is testing our Pivot point at 1.21252, in line with 38.2% Fibonacci retracement, 127% Fibonacci extension, and horizontal graphical area, where we could potentially see a rise from our pivot towards our 1st resistance level at 1.21845. It is worth noting that price is trending above the Ichimoku cloud and is showing bullish pressure in line with our analysis.
Pivot: 1.21252
Why we like it:
38.2% Fibonacci retracement, 127% Fibonacci extension, and horizontal graphical area
1st Support: 1.20902
Why we like it:
50% Fibonacci retracement and 100% Fibonacci extension.
1st Resistance: 1.21845
Why we like it:
-27%, -61.8% Fibonacci retracement, 161.8%, 78.6% Fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Pivot: 1.21252
Why we like it:
38.2% Fibonacci retracement, 127% Fibonacci extension, and horizontal graphical area
1st Support: 1.20902
Why we like it:
50% Fibonacci retracement and 100% Fibonacci extension.
1st Resistance: 1.21845
Why we like it:
-27%, -61.8% Fibonacci retracement, 161.8%, 78.6% Fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
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