EURUSD, H4 bouncing from our Pivot point, potential for a long
Price is bouncing from our Pivot point at 1.19511, in line with 38.2% Fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap, where we could potentially see a rise from our pivot towards our 1st resistance level at 1.20359, which is in line with 78.6% fibonacci extension and horizontal graphical overlap. Note that price is bouncing from the moving average, in line with our bullish analysis.
Pivot: 1.19511
Why we like it:
38.2% Fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
1st Support: 1.18828
Why we like it:
38.2% fibonacci retracement and horizontal swing low support.
1st Resistance: 1.20359
Why we like it:
78.6% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Pivot: 1.19511
Why we like it:
38.2% Fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
1st Support: 1.18828
Why we like it:
38.2% fibonacci retracement and horizontal swing low support.
1st Resistance: 1.20359
Why we like it:
78.6% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
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