Price is facing bearish pressure as it continues to hold below the descending trendline. We expect a medium probability bearish drop from our pivot towards our 1st support at 1.27229. Otherwise, a break above the pivot should see price swing towards 1st resistance at 1.27506. It is worth noting that MACD is holding below the 0 line, in line with our bearish bias.
Pivot: 1.27229
Supporting Points:
61.8% Fibonacci retracement, 78.6%, 100% Fibonacci extension and graphical swing high resistance
1st Support: 1.26441
Supporting Points:
76.4% Fibonacci retracement, 61.8% Fibonacci extension and graphical pullback support
1st Resistance: 1.27506
Supporting Points:
127.2% Fibonacci extension and graphical swing high resistance
Trading FX & CFDs carries high risk.
Pivot: 1.27229
Supporting Points:
61.8% Fibonacci retracement, 78.6%, 100% Fibonacci extension and graphical swing high resistance
1st Support: 1.26441
Supporting Points:
76.4% Fibonacci retracement, 61.8% Fibonacci extension and graphical pullback support
1st Resistance: 1.27506
Supporting Points:
127.2% Fibonacci extension and graphical swing high resistance
Trading FX & CFDs carries high risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.