EURUSD is at pivot potential for bounce! | 13th Oct

Price is approaching pivot level of 1.15235, which is in line with horizontal swing low support, 100% Fibonacci extension level. A reversal from this level may see price take resistance at price 1.16664. This level coincides with 38.2% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal overlap resistance. Finally, we can expect price to take support at 1.14879 78.6% Fibonacci extension level horizontal overlap support . This is further supported by how price is likely to bounce off the Stochastic support level .

Pivot:
1.15235
Why we like it:
horizontal swing low support, 100% Fibonacci extension level

1st Support:
1.14879
Why we like it:
78.6% Fibonacci extension levelhorizontal overlap support

1st Resistance:
1.16664
Why we like it:
38.2% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal overlap resistance

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