Title
EURUSD D1 Bullish Bounce
Type
Bullish Bounce
Preference:
Price is nearing the pivot of 1.0729, an overlap support level close to 61.8% Fibo retracement. A bounce from this level could lead the price to rise to 1st resistance at 1.07977, a pullback resistance level.
Alternative scenario:
if price breaks below the pivot, it could fall to 1st support at 1.0673, an overlap 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.