EURUSD DAILY PIVOT POINT
This page will show readers Pivot point levels for EURUSD Currency pair, and how price may move for the day.
The 4 hour time frame will be our focus for today’s pivot point analysis.
EURUSD Pivot 21st November, 2021 (19:35 GMT):
EURUSD 4HR TF:
EURUSD price closed on the 19th November, 2021 at 1.12828.
Opening price for Monday 22nd November 2021 may be around 1.12828.
Higher Daily price open may imply that price may close Bearish at the end of the day.
On the other hand, Lower Daily price open may imply that price may close Bullish at the end of the day.
Pivot for Monday is 1.13014 and it will be checked with open price.
The 4hr chart is currently showing that market price is currently Bearish.
However, on the 4hr chart, we have the formation of Lower High and Lower Lows.
Price may breakout higher towards Resistance 1 (1.13534 area) before jumping further to 1.14241 (Resistance 2).
Support 1, which is at the 1.12307 area is currently being eyed by the Bears.
A break below that level will definitely take price to Support 2 (1.11787 area).
Overall bias on the 4 hour chart is Bearish.
Find below computation results for Pivot Point, Support and Resistance levels for 22nd November, 2021.
DAILY TIME FRAME:
Using Weekly pivot levels on the Daily time frame, the most relevant levels are as follows;
Weekly pivot point (1.13319) is the Blue line in the image above. However, Weekly pivot is above Daily Pivot (Daily Pivot is at 1.13014).
The implication is, the Pivot point for the Higher Time Frame is higher than that of the Lower Time Frame.
Weekly Resistance is at 1.14146.
While weekly Support is at 1.12002.
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