EURUSD H1 is approaching pivot, in-line with 38.2% Fibonacci retracement and descending trendline resistance-turned-support where we may potentially see a bounce towards the 1st Swing High Resistance Level, in-line with -27.2% Fibonacci Retracement And 100% Fibonacci Extension. If price break from the pivot, we may see it swing towards 1st Support, in-line with 61.8% Fibonacci Retracement and 61.8% Fibonacci Extension
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.