EURUSD, H4 is reversing to our Pivot point, potential for a drop
Description
Price is approaching our Pivot point of 1.22347, which is in line with our 78.6% Fibonacci retracement, 61.8% Fibonacci extension and descending channel resistance, where we could see a potential drop at this level to our first support level of 1.21688, in line with 61.8% Fibonacci extension and horizontal graphical overlap. It is worth noting that price is trending within the descending channel in line with our bearish view.
Pivot: 1.22347
Why we like it:
78.6% Fibonacci retracement, 61.8% Fibonacci extension and descending channel resistance
1st Support: 1.21688
Why we like it:
61.8% Fibonacci extension and horizontal graphical overlap.
1st Resistance: 1.22592
Why we like it:
78.6% Fibonacci extension and horizontal graphical resistance.
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point of 1.22347, which is in line with our 78.6% Fibonacci retracement, 61.8% Fibonacci extension and descending channel resistance, where we could see a potential drop at this level to our first support level of 1.21688, in line with 61.8% Fibonacci extension and horizontal graphical overlap. It is worth noting that price is trending within the descending channel in line with our bearish view.
Pivot: 1.22347
Why we like it:
78.6% Fibonacci retracement, 61.8% Fibonacci extension and descending channel resistance
1st Support: 1.21688
Why we like it:
61.8% Fibonacci extension and horizontal graphical overlap.
1st Resistance: 1.22592
Why we like it:
78.6% Fibonacci extension and horizontal graphical resistance.
Trading FX & CFDs carries high risk.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.