EURUSD is facing bearish pressure from pivot, potential reversal
Price is facing bearish pressure from our pivot at 1.20782, in line with our horizontal pullback resistance, 38.2% fibonacci retracement and 61.8% fibonacci extension where we could see a further drop below this level. Ichimoku cloud and 20 EMA are showing signs of bearish pressure as well, in line with our bearish bias.
Description:
Pivot: 1.20782
Why we like it:
horizontal pullback resistance, 38.2% fibonacci retracement and 61.8% fibonacci extension
1st Support: 1.20019
Why we like it:
78.6% fibonacci retracement
1st Resistance: 1.21158
Why we like it:
100% fibonacci extension, Horizontal pullback resistance, 61.8% fibonacci retracement
Trading FX & CFDs carries high risk.
Description:
Pivot: 1.20782
Why we like it:
horizontal pullback resistance, 38.2% fibonacci retracement and 61.8% fibonacci extension
1st Support: 1.20019
Why we like it:
78.6% fibonacci retracement
1st Resistance: 1.21158
Why we like it:
100% fibonacci extension, Horizontal pullback resistance, 61.8% fibonacci retracement
Trading FX & CFDs carries high risk.
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