#EURUSD approaching pivot, potential for a rise!
Description
Price has broken above our pivot level at 1.13869 which is in line with horizontal overlap support, 23.6% Fibonacci retracement level . We could potentially see a further rise from here towards 1.14756, which coincides with 161.8% Fibonacci extension level and horizontal swing high resistance. Alternatively, we may see price drop to 1st support at 1.13185, which coincides with horizontal swing low support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1.13869
Why we like it:
horizontal overlap support, 23.6% Fibonacci retracement level
1st Support:
1.13185
Why we like it:
horizontal swing low support
1st Resistance:
1.14756
Why we like it:
161.8% Fibonacci extension level and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price has broken above our pivot level at 1.13869 which is in line with horizontal overlap support, 23.6% Fibonacci retracement level . We could potentially see a further rise from here towards 1.14756, which coincides with 161.8% Fibonacci extension level and horizontal swing high resistance. Alternatively, we may see price drop to 1st support at 1.13185, which coincides with horizontal swing low support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1.13869
Why we like it:
horizontal overlap support, 23.6% Fibonacci retracement level
1st Support:
1.13185
Why we like it:
horizontal swing low support
1st Resistance:
1.14756
Why we like it:
161.8% Fibonacci extension level and horizontal swing high resistance
Trading FX & CFDs carries high risk.
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