EURUSD, H4 breaking our Pivot point, potential for a rise .
Description
Price is breaking our Pivot point of 1.22603, which is in line with our 61.8%, 88.6% fibonacci extension and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 1.24063, in line with a fibonacci confluence. It is noteworthy that price is trending above an ascending trendline and the Ichimoku cloud. Lastly, the MACD is above 0 line as well as showing bullish momentum, in line with our bullish view.
Pivot: 1.22603
Why we like it:
61.8%, 88.6% fibonacci extension and horizontal graphical overlap
1st Support: 1.21406
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical support
1st Resistance: 1.24063
Why we like it:
-61.8% Fibonacci retracement and 127% fibonacci extension
Trading FX & CFDs carries high risk.
Price is breaking our Pivot point of 1.22603, which is in line with our 61.8%, 88.6% fibonacci extension and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 1.24063, in line with a fibonacci confluence. It is noteworthy that price is trending above an ascending trendline and the Ichimoku cloud. Lastly, the MACD is above 0 line as well as showing bullish momentum, in line with our bullish view.
Pivot: 1.22603
Why we like it:
61.8%, 88.6% fibonacci extension and horizontal graphical overlap
1st Support: 1.21406
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical support
1st Resistance: 1.24063
Why we like it:
-61.8% Fibonacci retracement and 127% fibonacci extension
Trading FX & CFDs carries high risk.
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