Type : Bearish Dip
Resistance: 4.5250
Pivot: 4.4920
Support : 4.4205
Preferred case: We see the potential for a bearish dip from our pivot level of 4.4920 which is in line with 78.6% Fibonacci retracement extension towards our 1st support level of 4.4205 which is in line with 78.6% Fibonacci retracement .
Alternative scenario: Alternatively, price might break our pivot structure and head for 1st resistance level of 4.5250 in line with 38.2% Fibonacci retracement and 127.2% Fibonacci extension .
Fundamentals: No major news.
Resistance: 4.5250
Pivot: 4.4920
Support : 4.4205
Preferred case: We see the potential for a bearish dip from our pivot level of 4.4920 which is in line with 78.6% Fibonacci retracement extension towards our 1st support level of 4.4205 which is in line with 78.6% Fibonacci retracement .
Alternative scenario: Alternatively, price might break our pivot structure and head for 1st resistance level of 4.5250 in line with 38.2% Fibonacci retracement and 127.2% Fibonacci extension .
Fundamentals: No major news.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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