Major Currency Pairs
, 4 hours
long
#Technical
#Bullish
| Resistance 1 | 1.37311 |
|---|---|
| Quote Price | 1.36957 |
| Support 1 | 1.36199 |
| Support 2 | 1.34602 |
- On the 4 hour chart, we can see that the price is at a key resistance zone around the 1.37 handle where we can find the confluence of the downward trendline and the 61.8% Fibonacci retracement level. This is where we can expect the sellers to step in with a defined risk above the Fibonacci level to position for a break below the 1.3620 support with a better risk to reward setup. The buyers, on the other hand, will want to see the price breaking higher to pile in and position for a rally into the 1.39 handle.
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