EURUSD, H4 has passed our Pivot point, potential for a long.
Price has passed the Pivot point at 1.20799, in line with 61.8% Fibonacci extension and horizontal graphical overlap, where we could potentially see a rise from our pivot towards our 1st resistance level at 1.21685, which is in line with -61.8% fibonacci retracement and 127% fibonacci extension. Note that price is trending above the Ichimoku cloud and ascending trendline, in line with our bullish analysis.
Pivot: 1.20799
Why we like it:
61.8% Fibonacci extension and horizontal graphical overlap
1st Support: 1.20051
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension, ascending trendline support and horizontal graphical overlap.
1st Resistance: 1.21685
Why we like it:
-61.8% fibonacci retracement and 127% fibonacci extension
Trading FX & CFDs carries high risk.
Pivot: 1.20799
Why we like it:
61.8% Fibonacci extension and horizontal graphical overlap
1st Support: 1.20051
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension, ascending trendline support and horizontal graphical overlap.
1st Resistance: 1.21685
Why we like it:
-61.8% fibonacci retracement and 127% fibonacci extension
Trading FX & CFDs carries high risk.
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