Euro / U.S. DollarShort
#EURUSD facing bearish pressure, potential for further downside!
Description
Price is reacting below our pivot level at 1.19702 which is in line with 38.2% Fibonacci retracement level. Price can potentially take support at 1.18443, which is in line with 50.0% Fibonacci extension level. Alternatively, price may rise up to our resistance at 1.20926, which coincides with 78.6% Fibonacci retracement level . This is further supported by how price is holding below the EMA
Pivot:
1.19702
Why we like it:
38.2% Fibonacci retracement level
1st Support:
1.1844
50.0% Fibonacci extension level
1st Resistance:
1.20926
78.6% Fibonacci retracement level
Trading FX & CFDs carries high risk.
Price is reacting below our pivot level at 1.19702 which is in line with 38.2% Fibonacci retracement level. Price can potentially take support at 1.18443, which is in line with 50.0% Fibonacci extension level. Alternatively, price may rise up to our resistance at 1.20926, which coincides with 78.6% Fibonacci retracement level . This is further supported by how price is holding below the EMA
Pivot:
1.19702
Why we like it:
38.2% Fibonacci retracement level
1st Support:
1.1844
50.0% Fibonacci extension level
1st Resistance:
1.20926
78.6% Fibonacci retracement level
Trading FX & CFDs carries high risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.