EURUSD, H4 reversed from our Pivot point, potential for a drop
Description
Price has reversed from our Pivot point of 1.21515, which is in line with our 78.6% Fibonacci retracement, 61.8% fibonacci extension, descending trendline resistance and horizontal graphical overlap, where we could see a potential drop from this level to our first support level of 1.20956, in line with a fibonacci confluence. It is noteworthy that price is trending under the Ichimoku cloud and MACD is below the 0 line, in line with our bearish view.
Pivot: 1.21515
Why we like it:
78.6% Fibonacci retracement, 61.8% fibonacci extension, descending trendline resistance and horizontal graphical overlap
1st Support: 1.20956
Why we like it:
61.8% Fibonacci retracement, 127% fibonacci extension and horizontal swing low resistance.
1st Resistance: 1.21826
Why we like it:
-27% Fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Price has reversed from our Pivot point of 1.21515, which is in line with our 78.6% Fibonacci retracement, 61.8% fibonacci extension, descending trendline resistance and horizontal graphical overlap, where we could see a potential drop from this level to our first support level of 1.20956, in line with a fibonacci confluence. It is noteworthy that price is trending under the Ichimoku cloud and MACD is below the 0 line, in line with our bearish view.
Pivot: 1.21515
Why we like it:
78.6% Fibonacci retracement, 61.8% fibonacci extension, descending trendline resistance and horizontal graphical overlap
1st Support: 1.20956
Why we like it:
61.8% Fibonacci retracement, 127% fibonacci extension and horizontal swing low resistance.
1st Resistance: 1.21826
Why we like it:
-27% Fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.