EURUSD is facing bearish pressure. Potential for drop.
Description:
Price is reversing from our pivot of 1.21407. We expect a medium probability from our pivot towards our 1st support at 1.21095. Otherwise, a break above the pivot should see price swing towards 1st resistance at 1.21722. It is noteworthy that price is trending under the moving average, in line with our analysis.
Pivot: 1.21407
Supporting Points:
50% Fibonacci retracement, 127% Fibonacci extension, moving average resistance and horizontal graphical overlap.
1st Support: 1.21095
Supporting Points:
127% Fibonacci retracement, 78.6%, 88% Fibonacci extension and horizontal swing low support.
1st Resistance: 1.21722
Supporting Points:
161.8%, 78.6% fibonacci retracement, 200% Fibonacci extension and horizontal graphical resistance.
Trading FX & CFDs carries high risk.
Price is reversing from our pivot of 1.21407. We expect a medium probability from our pivot towards our 1st support at 1.21095. Otherwise, a break above the pivot should see price swing towards 1st resistance at 1.21722. It is noteworthy that price is trending under the moving average, in line with our analysis.
Pivot: 1.21407
Supporting Points:
50% Fibonacci retracement, 127% Fibonacci extension, moving average resistance and horizontal graphical overlap.
1st Support: 1.21095
Supporting Points:
127% Fibonacci retracement, 78.6%, 88% Fibonacci extension and horizontal swing low support.
1st Resistance: 1.21722
Supporting Points:
161.8%, 78.6% fibonacci retracement, 200% Fibonacci extension and horizontal graphical resistance.
Trading FX & CFDs carries high risk.