EURUSD, H4 bounced from our Pivot point, potential for a long
Price has bounced from our Pivot point at 1.21122, in line with 38.2% Fibonacci retracement, 61.8% Fibonacci extension and ascending trendline support, where we could potentially see a rise from our pivot towards our 1st resistance level at 1.21599, which is in line with 61.8% fibonacci extension. Note that price is trending above the Ichimoku cloud and ascending trendline, in line with our bullish analysis.
Pivot: 1.21122
Why we like it:
38.2% Fibonacci retracement, 61.8% Fibonacci extension and ascending trendline support
1st Support: 1.20772
Why we like it:
127% fibonacci extension, 78.6% fibonacci retracement and horizontal graphical overlap.
1st Resistance: 1.21599
Why we like it:
61.8% fibonacci extension
Trading FX & CFDs carries high risk.
Pivot: 1.21122
Why we like it:
38.2% Fibonacci retracement, 61.8% Fibonacci extension and ascending trendline support
1st Support: 1.20772
Why we like it:
127% fibonacci extension, 78.6% fibonacci retracement and horizontal graphical overlap.
1st Resistance: 1.21599
Why we like it:
61.8% fibonacci extension
Trading FX & CFDs carries high risk.
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