#EURUSD approaching pivot, potential for a rise!
Description
Price has broken above our pivot level at 1.12806 which is in line with horizontal overlap support, 78.6% Fibonacci retracement level . We could potentially see a further rise from here towards 1.1379, which coincides with 127.2% Fibonacci extension level and the horizontal swing high resistance. Alternatively, we may see price break pivot structure and drop to 1st support at 1.12315, which coincides with 161.8% Fibonacci extension level and horizontal swing low support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1.12806
Why we like it:
horizontal overlap support, 78.6% Fibonacci retracement level
1st Support:
1.12315
Why we like it:
161.8% Fibonacci extension level and horizontal swing low support
1st Resistance:
1.13790
Why we like it:
127.2% Fibonacci extension level and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price has broken above our pivot level at 1.12806 which is in line with horizontal overlap support, 78.6% Fibonacci retracement level . We could potentially see a further rise from here towards 1.1379, which coincides with 127.2% Fibonacci extension level and the horizontal swing high resistance. Alternatively, we may see price break pivot structure and drop to 1st support at 1.12315, which coincides with 161.8% Fibonacci extension level and horizontal swing low support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1.12806
Why we like it:
horizontal overlap support, 78.6% Fibonacci retracement level
1st Support:
1.12315
Why we like it:
161.8% Fibonacci extension level and horizontal swing low support
1st Resistance:
1.13790
Why we like it:
127.2% Fibonacci extension level and 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.