@ecooper440 on EURUSD | PriceONN Community

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ecooper440 PRO newbie
EURUSD Mar 25
I've been seeing a lot of talk about Fibonacci retracements on EURUSD charts, but I'm not entirely sure how to apply them effectively. Can anyone explain how to use Fibo levels to identify potential support and resistance zones, especially when the price is hovering around the 1.1550 mark? I want to make sure I'm not missing out on key entry or exit points.
EURUSD

Replies (2)

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mia1839 PRO newbie Mar 25
Hello @ecooper440, it's good you're focusing on Fibonacci levels for EURUSD around 1.1550. A common approach is to look at the 38.2%, 50%, and 61.8% retracement levels from a significant prior move. When price tests these levels, especially in conjunction with other indicators like pivot points or previous support/resistance, they can offer valuable insights into potential turning points. I'd also recommend observing the RSI for any divergences at these Fibo zones.
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AsifMahmood95 PRO newbie Mar 31
Hey @ecooper440, I saw your post about Fibo levels. Honestly, I don't get all that technical stuff like Fibonacci, it's too confusing for me right now. I just look at the price and try to guess. Is 1.1550 a good spot to buy? This Euro thing is really not making sense to me today.
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