EURUSD, H4 bouncing from our Pivot point, potential for a rise .
Description
Price is bouncing from our Pivot point of 1.22493, which is in line with our 38.2% and 38.2% % fibonacci retracement and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 1.23169, in line with a fibonacci confluence. It is noteworthy that price is trending above an ascending trendline and the Ichimoku cloud, in line with our bullish analysis.
Pivot: 1.22493
Why we like it:
38.2% and 38.2% % fibonacci retracement and horizontal graphical overlap
1st Support: 1.22178
Why we like it:
61.8% fibonacci retracement, 88.6% fibonacci extension and ascending trendline support
1st Resistance: 1.23169
Why we like it:
61.8%, 88% fibonacci extension and Horizontal graphical resistance
Trading FX & CFDs carries high risk.
Price is bouncing from our Pivot point of 1.22493, which is in line with our 38.2% and 38.2% % fibonacci retracement and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 1.23169, in line with a fibonacci confluence. It is noteworthy that price is trending above an ascending trendline and the Ichimoku cloud, in line with our bullish analysis.
Pivot: 1.22493
Why we like it:
38.2% and 38.2% % fibonacci retracement and horizontal graphical overlap
1st Support: 1.22178
Why we like it:
61.8% fibonacci retracement, 88.6% fibonacci extension and ascending trendline support
1st Resistance: 1.23169
Why we like it:
61.8%, 88% fibonacci extension and Horizontal graphical resistance
Trading FX & CFDs carries high risk.
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