EURUSD Bearish Drop
Description
Price is reacting below our pivot level at 1.11774 which is in line with 127.2% Fibonacci extension levelhorizontal swing low support. Price can potentially take support at 1.10014, which is in line with horizontal overlap support. Alternatively, price may rise up to our resistance at 1.13807, which coincides with 38.2% Fibonacci retracement levelhorizontal overlap resistance . This is further supported by how price is likely to reverse off the Stochastic resistance level.
Pivot:
1.11774
Why we like it:
127.2% Fibonacci extension levelhorizontal swing low support
1st Support:
1.10014
Why we like it:
horizontal overlap support
1st Resistance:
1.13807
Why we like it:
38.2% Fibonacci retracement levelhorizontal overlap resistance
Trading FX & CFDs carries high risk.
Price is reacting below our pivot level at 1.11774 which is in line with 127.2% Fibonacci extension levelhorizontal swing low support. Price can potentially take support at 1.10014, which is in line with horizontal overlap support. Alternatively, price may rise up to our resistance at 1.13807, which coincides with 38.2% Fibonacci retracement levelhorizontal overlap resistance . This is further supported by how price is likely to reverse off the Stochastic resistance level.
Pivot:
1.11774
Why we like it:
127.2% Fibonacci extension levelhorizontal swing low support
1st Support:
1.10014
Why we like it:
horizontal overlap support
1st Resistance:
1.13807
Why we like it:
38.2% Fibonacci retracement levelhorizontal overlap resistance
Trading FX & CFDs carries high risk.
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