EURUSD, H4 approaching our Pivot point, potential for a bounce.
Price is reaching our Pivot point at 1.21599, in line with 61.8% Fibonacci retracement, 127%, 61.8% fibonacci extension, ascending trendline support and horizontal graphical area, where we could potentially see a rise from our pivot towards our 1st resistance level at 1.22278. It is noteworthy that price is trending above the Ichimoku cloud and ascending trendline, in line with our bullish analysis.
Pivot: 1.21599
Why we like it:
61.8% Fibonacci retracement, 127%, 61.8% fibonacci extension, ascending trendline support and horizontal graphical area
1st Support: 1.21282
Why we like it:
88% Fibonacci retracement, 78.6%, 161.8% fibonacci extension and horizontal swing low support
1st Resistance: 1.22278
Why we like it:
100%, 61.8% Fibonacci extension and horizontal swing high resistance
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