#EURUSD approaching pivot, potential for a drop!
Description
Price is reacting below our pivot level at 1.13452 which is in line with horizontal overlap resistance, 61.8% Fibonacci retracement level. Price can potentially take support at 1.12791, which is in line with horizontal swing low support, 78.6% Fibonacci retracement level. Alternatively, price may rise up to our resistance at 1.1363, which coincides with horizontal swing high resistance . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1.13452
Why we like it:
horizontal overlap resistance, 61.8% Fibonacci retracement level
1st Support:
1.12791
Why we like it:
horizontal swing low support, 78.6% Fibonacci retracement level
1st Resistance:
1.13630
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price is reacting below our pivot level at 1.13452 which is in line with horizontal overlap resistance, 61.8% Fibonacci retracement level. Price can potentially take support at 1.12791, which is in line with horizontal swing low support, 78.6% Fibonacci retracement level. Alternatively, price may rise up to our resistance at 1.1363, which coincides with horizontal swing high resistance . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1.13452
Why we like it:
horizontal overlap resistance, 61.8% Fibonacci retracement level
1st Support:
1.12791
Why we like it:
horizontal swing low support, 78.6% Fibonacci retracement level
1st Resistance:
1.13630
Why we like it:
horizontal swing high 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.