#EURUSD, H4 is bouncing from our pivot, potential for rise
Price is bouncing from our Pivot point at 1.19082, in line with 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal overlap, where we could potentially see a push up from our pivot towards our 1st resistance level at 1.19726, which is in line with 78.6%, -27% fibonacci retracement and horizontal graphical overlap. Note that price is above the moving average, in line with our bearish analysis.
Pivot: 1.19082
Why we like it:
61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal overlap
1st Support: 1.18605
Why we like it:
78.6%, 161.8% fibonacci retracement and horizontal graphical overlap
1st Resistance: 1.19726
Why we like it:
78.6%, -27% fibonacci retracement and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Pivot: 1.19082
Why we like it:
61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal overlap
1st Support: 1.18605
Why we like it:
78.6%, 161.8% fibonacci retracement and horizontal graphical overlap
1st Resistance: 1.19726
Why we like it:
78.6%, -27% fibonacci retracement and horizontal graphical overlap
Trading FX & CFDs carries high risk.
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