Description:
Price is facing bearish pressure as it continues to hold below the Ichimoku cloud. We expect a medium probability bearish scenario as price continues to push below our pivot at 1.21772 towards our 1st support at 1.21113. Otherwise, a break above the pivot should see price swing towards 1st resistance at 1.22229.
Pivot: 1.21772
Supporting Points:
61.8% Fibonacci retracement, 50% Fibonacci extension and graphical swing high resistance
1st Support: 1.21113
Supporting Points:
61.8% Fibonacci extension and graphical swing low support
1st Resistance: 1.22229
Supporting Points:
127.2% Fibonacci extension and graphical swing high resistance
Trading FX & CFDs carries high risk.
Price is facing bearish pressure as it continues to hold below the Ichimoku cloud. We expect a medium probability bearish scenario as price continues to push below our pivot at 1.21772 towards our 1st support at 1.21113. Otherwise, a break above the pivot should see price swing towards 1st resistance at 1.22229.
Pivot: 1.21772
Supporting Points:
61.8% Fibonacci retracement, 50% Fibonacci extension and graphical swing high resistance
1st Support: 1.21113
Supporting Points:
61.8% Fibonacci extension and graphical swing low support
1st Resistance: 1.22229
Supporting Points:
127.2% Fibonacci extension and graphical swing high resistance
Trading FX & CFDs carries high risk.