EURUSD, H4 is approaching our Pivot point. Potential for a rise
Description:
Price is approaching our Pivot point at 1.21203, which is in line with our 23.6% Fibonacci Retracement and ascending trendline support. We could potentially see price rise towards our 1st resistance level at 1.22171. It is worth noting that price is currently trending above the Ichimoku cloud, ascending trendline and MACD is above the 0 line, showing bullish pressure in line with our analysis.
Pivot: 1.21203
Why we like it:
23.6% Fibonacci Retracement and ascending trendline support
1st Support: 1.20861
Why we like it:
38.2% Fibonacci retracement, 61.8% Fibonacci extension and horizontal overlap support
1st Resistance: 1.22171
Why we like it:
127% Fibonacci retracement, 61.8% Fibonacci extension
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.21203, which is in line with our 23.6% Fibonacci Retracement and ascending trendline support. We could potentially see price rise towards our 1st resistance level at 1.22171. It is worth noting that price is currently trending above the Ichimoku cloud, ascending trendline and MACD is above the 0 line, showing bullish pressure in line with our analysis.
Pivot: 1.21203
Why we like it:
23.6% Fibonacci Retracement and ascending trendline support
1st Support: 1.20861
Why we like it:
38.2% Fibonacci retracement, 61.8% Fibonacci extension and horizontal overlap support
1st Resistance: 1.22171
Why we like it:
127% Fibonacci retracement, 61.8% Fibonacci extension
Trading FX & CFDs carries high risk.
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