EURUSD, H4 is approaching Pivot point. Potential for a rise
Description:
Price is approaching our Pivot point at 1.20510, which is in line with our 50%, -27%, 127.2%, -68% Fibonacci Retracement and horizontal overlap support. We could potentially see price rise towards our 1st resistance level at 1.21908. It is worth noting that price is currently trending above the Ichimoku cloud, ascending trendline and MACD is above the 0 line, showing bullish pressure in line with our analysis.
Pivot: 1.20510
Why we like it:
50%, -27%, 127.2%, -68% Fibonacci Retracement and horizontal overlap support
1st Support: 1.19848
Why we like it:
78.6% Fibonacci retracement and horizontal overlap support
1st Resistance: 1.21908
Why we like it:
78.6%, 127.2% Fibonacci extension, -27% Fibonacci retracement and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.20510, which is in line with our 50%, -27%, 127.2%, -68% Fibonacci Retracement and horizontal overlap support. We could potentially see price rise towards our 1st resistance level at 1.21908. It is worth noting that price is currently trending above the Ichimoku cloud, ascending trendline and MACD is above the 0 line, showing bullish pressure in line with our analysis.
Pivot: 1.20510
Why we like it:
50%, -27%, 127.2%, -68% Fibonacci Retracement and horizontal overlap support
1st Support: 1.19848
Why we like it:
78.6% Fibonacci retracement and horizontal overlap support
1st Resistance: 1.21908
Why we like it:
78.6%, 127.2% Fibonacci extension, -27% Fibonacci retracement and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
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