#EURUSD approaching pivot, potential for a rise!
Description
Price has broken above our pivot level at 1.14331 which is in line with 100% Fibonacci extension levelhorizontal swing low support . We could potentially see a further rise from here towards 1.14386, which coincides with 50.0% Fibonacci retracement levelhorizontal overlap resistance. Finally, we can expect price to take support at 1.13845, which coincides with 127.2% Fibonacci extension level, 127.2% Fibonacci extension level . This is further supported by how price is now holding below the Ichimoku cloud resistance.
Pivot:
1.14331
Why we like it:
100% Fibonacci extension levelhorizontal swing low support
1st Support:
1.13845
Why we like it:
127.2% Fibonacci extension level, 127.2% Fibonacci extension level
1st Resistance:
1.14386
Why we like it:
50.0% Fibonacci retracement levelhorizontal overlap resistance
Trading FX & CFDs carries high risk.
Price has broken above our pivot level at 1.14331 which is in line with 100% Fibonacci extension levelhorizontal swing low support . We could potentially see a further rise from here towards 1.14386, which coincides with 50.0% Fibonacci retracement levelhorizontal overlap resistance. Finally, we can expect price to take support at 1.13845, which coincides with 127.2% Fibonacci extension level, 127.2% Fibonacci extension level . This is further supported by how price is now holding below the Ichimoku cloud resistance.
Pivot:
1.14331
Why we like it:
100% Fibonacci extension levelhorizontal swing low support
1st Support:
1.13845
Why we like it:
127.2% Fibonacci extension level, 127.2% Fibonacci extension level
1st Resistance:
1.14386
Why we like it:
50.0% Fibonacci retracement levelhorizontal overlap resistance
Trading FX & CFDs carries high risk.