EURUSD, H4 is reversing to our Pivot point, potential for a drop
Description
Price is approaching our Pivot point of 1.22347, which is in line with our 78.6% Fibonacci retracement, 61.8% Fibonacci extension and descending channel resistance, where we could see a potential drop at this level to our first support level of 1.21688, in line with 61.8% Fibonacci extension and horizontal graphical overlap. It is worth noting that price is trending within the descending channel in line with our bearish view.
Pivot: 1.22347
Why we like it:
78.6% Fibonacci retracement, 61.8% Fibonacci extension and descending channel resistance
1st Support: 1.21688
Why we like it:
61.8% Fibonacci extension and horizontal graphical overlap.
1st Resistance: 1.22592
Why we like it:
78.6% Fibonacci extension and horizontal graphical resistance.
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point of 1.22347, which is in line with our 78.6% Fibonacci retracement, 61.8% Fibonacci extension and descending channel resistance, where we could see a potential drop at this level to our first support level of 1.21688, in line with 61.8% Fibonacci extension and horizontal graphical overlap. It is worth noting that price is trending within the descending channel in line with our bearish view.
Pivot: 1.22347
Why we like it:
78.6% Fibonacci retracement, 61.8% Fibonacci extension and descending channel resistance
1st Support: 1.21688
Why we like it:
61.8% Fibonacci extension and horizontal graphical overlap.
1st Resistance: 1.22592
Why we like it:
78.6% Fibonacci extension and horizontal graphical resistance.
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.