EURUSD, H4 bounced from our Pivot point, potential for a long
Price is bouncing from our Pivot point at 1.19957, in line with 23.8%, 61.8% Fibonacci retracement and horizontal graphical overlap, where we could potentially see a rise from our pivot towards our 1st resistance level at 1.21820, which is in line with -27%, -61.8% fibonacci retracement and 127% fibonacci extension. Note that price is trending above the Ichimoku cloud, in line with our bullish analysis.
Pivot: 1.19957
Why we like it:
23.8%, 61.8% Fibonacci retracement and horizontal graphical overlap
1st Support: 1.19053
Why we like it:
50%, 127% fibonacci retracement and ichimoku cloud support.
1st Resistance: 1.21820
Why we like it:
-27%, -61.8% fibonacci retracement and 127% fibonacci extension
Trading FX & CFDs carries high risk.
Pivot: 1.19957
Why we like it:
23.8%, 61.8% Fibonacci retracement and horizontal graphical overlap
1st Support: 1.19053
Why we like it:
50%, 127% fibonacci retracement and ichimoku cloud support.
1st Resistance: 1.21820
Why we like it:
-27%, -61.8% fibonacci retracement and 127% fibonacci extension
Trading FX & CFDs carries high risk.
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