#EURUSD, H4 has bounced from pivot, potential for rise
Price has bounced from our Pivot point at 1.21674, in line with 61.8% fibonacci retracement, 100% fibonacci extension and horizontal overlap resistance, where we could potentially see a push up from our pivot towards our 1st resistance level at 1.22592, which is in line with 127% fibonacci extension, 127% fibonacci retracement and horizontal swing high resistance. Please note that price is currently trending within a bullish channel, in line with our bullish analysis.
Pivot: 1.21674
Why we like it:
61.8% fibonacci retracement, 100% fibonacci extension and horizontal overlap resistance
1st Support: 1.21002
Why we like it:
78.6%, 127% fibonacci retracement and horizontal swing low support.
1st Resistance: 1.22592
Why we like it:
127% fibonacci extension, 127% fibonacci retracement and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot: 1.21674
Why we like it:
61.8% fibonacci retracement, 100% fibonacci extension and horizontal overlap resistance
1st Support: 1.21002
Why we like it:
78.6%, 127% fibonacci retracement and horizontal swing low support.
1st Resistance: 1.22592
Why we like it:
127% fibonacci extension, 127% fibonacci retracement and horizontal swing high resistance
Trading FX & CFDs carries high risk.
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