Home Broker News Vantage FX Daily Outlook 8th Oct 2020

Vantage FX Daily Outlook 8th Oct 2020

649
0

EURUSD, H1 is reversing from our Pivot point. Potential for a bearish drop.

Description:

Price is reversing from our Pivot point at 1.17808, which is in line with our 61.8% Fibonacci retracement, 38.2%, 50% Fibonacci extension, and horizontal graphical resistance. We could potentially be seeing a drop below this level towards our 1st support at 1.17217. It’s worth noting that the Stochastics Oscillator (34,5,3) is showing a bearish pressure at the 93% resistance where price has previously rejected from.

Pivot: 1.17808
Why we like it:
61.8% Fibonacci retracement, 38.2%, 50% Fibonacci extension, and horizontal graphical overlap

1st Support: 1.17217
Why we like it:
23.6% Fibonacci Retracement and 78.6%, 127% Fibonacci extension and horizontal graphical support

1st Resistance: 1.18109
Why we like it:
76.4% Fibonacci Extension and Horizontal graphical resistance level

Trading FX & CFDs carries high risk.

GBPUSD, H4 is breaking above our Pivot point, potential for a further rise.

Description:

Price is breaking above our Pivot point at 1.29417 which is in line with our 61.8% Fibonacci retracement. We could potentially see price rally towards our 1st resistance level at 1.30975. It’s worth noting that the Stochastic Oscillator (13,5,3) is showing bullish momentum from the ascending trendline where it has previously bounced off. Lastly, the Ichimoku cloud is showing bullish momentum where price is trending above the cloud.

Pivot: 1.29417
Why we like it:
61.8% Fibonacci retracement.

1st Support: 1.28418
Why we like it:
50% Fibonacci Retracement, 50% Fibonacci extension and Horizontal graphical support

1st Resistance: 1.30975
Why we like it:
78.6%, 161.8% Fibonacci Extension and -27% Fibonacci Retracement.

Trading FX & CFDs carries high risk.

USDJPY, H4 is reversing from our Pivot point, potential for a drop.

Description

Price is reversing from our Pivot point at 106.070 which is in line with our 61.8%, 78.6% Fibonacci Retracement, and horizontal graphical resistance level. We could potentially be seeing price dropping towards our 1st support level at 105.401. It is worth noting that the Stochastic Oscillator (13,5,3) is showing bearish pressure where price has previously rejected off the 85% level.

Pivot: 106.070
Why we like it:
61.8%, 78.6% Fibonacci Retracement, and horizontal graphical resistance level.

1st Support: 105.401
Why we like it:
61.8% Fibonacci Retracement, 23.6%, 88 Fibonacci extension.

1st Resistance: 106.022
Why we like it:
88% Fibonacci Retracement, 78.6% Fibonacci extension and horizontal graphical resistance level.

Trading FX & CFDs carries high risk.

USDCHF, H4 is approaching our Pivot point, potential for a bearish drop.

Description

Price is approaching our Pivot point at 0.91803 which is in line with our 61.8% Fibonacci Retracement, 100% Fibonacci extension, and horizontal graphical area. Price could potentially reverse and drop towards our 1st support level at 0.91402. It’s worth noting that the Ichimoku cloud is acting as a resistance above price, as well as the 55 EMA line.

Pivot: 0.91462
Why we like it:
61.8% Fibonacci Retracement, 100% Fibonacci extension, and horizontal graphical area

1st Support: 0.91078
Why we like it:
76.4% Fibonacci Retracement and 127% Fibonacci Extension

1st Resistance: 0.92458
Why we like it:
23.6% Fibonacci Retracement, 61.8% Fibonacci extension, Ichimoku Cloud resistance and horizontal graphical resistance level.

Trading FX & CFDs carries high risk.

Enjoy your trading with Vantage FX today and claim 50% welcome bonus.

Join us

LEAVE A REPLY

Please enter your comment!
Please enter your name here