Title
EURUSD H4 | Falling to support
Type
Bullish Bounce
Preference:
Price is failing to reach our pivot point at 1.09127 which is an overlap support level and lines up with 61.8% Fibonacci retracement. Price could rally to our 1st resistance at 1.09813, which is multi swing high resistance.
Alternative scenario:
However if price breaks break below the pivot. It could drop down to 1st support level at 1.0844 which is swing low support level
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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.