EURUSD, H4 is approaching our Pivot point, potential for a rise
Price is approaching our Pivot point at 1.19230, in line with 61.8% Fibonacci retracement, 100% fibonacci extension,descending trendline support and horizontal graphical area, where we could potentially see a rise from our pivot towards our 1st Resistance level at 1.20375, which is in line with -27% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. Note that price has broken out of the descending trendline, in line with our bullish analysis.
Pivot: 1.19230
Why we like it:
61.8% Fibonacci retracement, 100% fibonacci extension,descending trendline support and horizontal graphical area
1st Support: 1.18761
Why we like it:
78.6% fibonacci retracement, 161.8% fibonacci extension and horizontal swing low support
1st Resistance: 1.20375
Why we like it:
-27% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Pivot: 1.19230
Why we like it:
61.8% Fibonacci retracement, 100% fibonacci extension,descending trendline support and horizontal graphical area
1st Support: 1.18761
Why we like it:
78.6% fibonacci retracement, 161.8% fibonacci extension and horizontal swing low support
1st Resistance: 1.20375
Why we like it:
-27% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
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