EURUSD, H4 has bounced from our Pivot point, potential for a lo

٢٨ أبريل ٢٠٢١

Price has bounced from our Pivot point at 1.20562, in line with 50% Fibonacci retracement, 61.8%, 78.6 Fibonacci extension and ascending trendline support, where we could potentially see a rise from our pivot towards our 1st resistance level at 1.21543, which is in line with 78.6% fibonacci extension. Note that price is trending above the Ichimoku cloud and ascending trendline, in line with our bullish analysis.

Pivot: 1.20562
Why we like it:
50% Fibonacci retracement, 61.8%, 78.6 Fibonacci extension and ascending trendline support

1st Support: 1.19955
Why we like it:
161.8% fibonacci extension and horizontal graphical overlap.

1st Resistance: 1.21543
Why we like it:
78.6% fibonacci extension

Trading FX & CFDs carries high risk.