#EURUSD, H4 is bouncing from our pivot, potential for rise
Price is bouncing from our Pivot point at 1.19237, in line with 38.2%, 78.6% fibonacci retracement and horizontal overlap, where we could potentially see a push up from our pivot towards our 1st resistance level at 1.19921, which is in line with -27% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap. Note that price is above the moving average and ascending trendline, in line with our bullish analysis.
Pivot: 1.19237
Why we like it:
38.2%, 78.6% fibonacci retracement and horizontal overlap
1st Support: 1.18740
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.19921
Why we like it:
-27% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Pivot: 1.19237
Why we like it:
38.2%, 78.6% fibonacci retracement and horizontal overlap
1st Support: 1.18740
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.19921
Why we like it:
-27% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
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