Description Price bounced from our Pivot point at 0.89725 which is in line with 50% Fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.90095, a fibonacci confluence. It is worth noting that MACD is above the 0 line and price is above the Ichimoku clouds, in line with our bullish analysis.
Pivot: 0.89725 Why we like it: 50% Fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 0.89440 Why we like it: -27% fibonacci retracement, 200% fibonacci extension and horizontal swing low support.
1st Resistance: 0.90095 Why we like it: -27%, 241.4% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. Trading FX & CFDs carries high risk.