Type : Bullish Bounce
Resistance : 4.8060
Pivot: 4.7385
Support : 4.7020
Preferred Case: Price is near pivot level of 4.7385 in line with 50% Fibonacci retracement and 61.8% Fibonacci projection. Price can potentially bounce up to the 1st resistance level of 4.8060, in line with 100% Fibonacci projection and 127.2% Fibonacci extension, along with a graphical swing high resistance. Our bullish bias is further supported by price trading below the Ichimoku cloud indicator.
Alternative scenario: Price might continue to drop towards the 1st support level of 4.7020 in line with 61.8% Fibonacci projection.
Fundamentals: No Major News
Resistance : 4.8060
Pivot: 4.7385
Support : 4.7020
Preferred Case: Price is near pivot level of 4.7385 in line with 50% Fibonacci retracement and 61.8% Fibonacci projection. Price can potentially bounce up to the 1st resistance level of 4.8060, in line with 100% Fibonacci projection and 127.2% Fibonacci extension, along with a graphical swing high resistance. Our bullish bias is further supported by price trading below the Ichimoku cloud indicator.
Alternative scenario: Price might continue to drop towards the 1st support level of 4.7020 in line with 61.8% Fibonacci projection.
Fundamentals: No Major News
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.