#EURUSD, H4 is approaching our Pivot point, potential for a rise
Price is above our Pivot point at 1.21110, in line with 38.2% fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap, where we could potentially see a rise from our pivot towards our 1st resistance level at 1.21815, which is in line with 61.8% fibonacci extension and horizontal swing high. Note that price is trending above the moving average, in line with our bullish analysis.
Pivot: 1.21110
Why we like it:
38.2% fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap
1st Support: 1.20667
Why we like it:
127% fibonacci extension, 61.8% fibonacci retracement and horizontal swing low.
1st Resistance: 1.21815
Why we like it:
61.8% fibonacci extension and horizontal swing high
Trading FX & CFDs carries high risk.
Pivot: 1.21110
Why we like it:
38.2% fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap
1st Support: 1.20667
Why we like it:
127% fibonacci extension, 61.8% fibonacci retracement and horizontal swing low.
1st Resistance: 1.21815
Why we like it:
61.8% fibonacci extension and horizontal swing high
Trading FX & CFDs carries high risk.
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