#EURUSD approaching pivot, potential for a rise!
Description
Price is at our pivot area at 0.90921 which is in line with 100% Fibonacci projection level and horizontal swing low support . With price at the support of the stochastics indicator, We could potentially see a further rise from here towards 0.91497, which coincides with 38.2% Fibonacci retracement level and horizontal overlap resistance. Alternatively, we may see price break picot structure and drop to 1st support at 0.90547, which coincides with 127.2% Fibonacci extension level .
Pivot:
0.90921
Why we like it:
100% Fibonacci projectionextension level and horizontal swing low support
1st Support:
0.90547
Why we like it:
127.2% Fibonacci extension level
1st Resistance:
0.91497
Why we like it:
38.2% Fibonacci retracement level and horizontal overlap resistance
Trading FX & CFDs carries high risk.
Price is at our pivot area at 0.90921 which is in line with 100% Fibonacci projection level and horizontal swing low support . With price at the support of the stochastics indicator, We could potentially see a further rise from here towards 0.91497, which coincides with 38.2% Fibonacci retracement level and horizontal overlap resistance. Alternatively, we may see price break picot structure and drop to 1st support at 0.90547, which coincides with 127.2% Fibonacci extension level .
Pivot:
0.90921
Why we like it:
100% Fibonacci projectionextension level and horizontal swing low support
1st Support:
0.90547
Why we like it:
127.2% Fibonacci extension level
1st Resistance:
0.91497
Why we like it:
38.2% Fibonacci retracement level and horizontal overlap resistance
Trading FX & CFDs carries high risk.
Disclaimer
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