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Type:Bullish Bounce
Support: 110.429
Resistance: 111.1
Pivot: 110.593
Preference:Price has recently tested our pivot at 110.593 in line with 161.8% Fibonacci extension and has the potential to climb even higher towards our 1st resistance at 111.1 in line with 200% Fibonacci extension, graphical overlay and parallel channel.
Alternative Scenario:Alternatively, Price May Dip To Our 1st Support At 110.429 In Line With 23.6% Fibonacci Retracement.
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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.