#EURUSD approaching pivot, potential for a drop!
Description
Price is reacting below our pivot level at 1.1586 which is in line with 38.2% Fibonacci retracement levelhorizontal swing low support. Price can potentially take support at 1.15242, which is in line with 161.8% Fibonacci extension levelhorizontal swing low support. Alternatively, price may rise up to our resistance at 1.1627, which coincides with 61.8% Fibonacci retracement levelhorizontal overlap resistance . This is further supported by how price is likely to reverse off the Stochastic resistance level.
Pivot:
1.15860
Why we like it:
38.2% Fibonacci retracement levelhorizontal swing low support
1st Support:
1.15242
Why we like it:
161.8% Fibonacci extension levelhorizontal swing low support
1st Resistance:
1.16270
Why we like it:
61.8% Fibonacci retracement levelhorizontal overlap resistance
Trading FX & CFDs carries high risk.
Price is reacting below our pivot level at 1.1586 which is in line with 38.2% Fibonacci retracement levelhorizontal swing low support. Price can potentially take support at 1.15242, which is in line with 161.8% Fibonacci extension levelhorizontal swing low support. Alternatively, price may rise up to our resistance at 1.1627, which coincides with 61.8% Fibonacci retracement levelhorizontal overlap resistance . This is further supported by how price is likely to reverse off the Stochastic resistance level.
Pivot:
1.15860
Why we like it:
38.2% Fibonacci retracement levelhorizontal swing low support
1st Support:
1.15242
Why we like it:
161.8% Fibonacci extension levelhorizontal swing low support
1st Resistance:
1.16270
Why we like it:
61.8% Fibonacci retracement levelhorizontal overlap resistance
Trading FX & CFDs carries high risk.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.