Title
EURUSD H4 | Bullish Bounce
Type
Bullish Bounce
Preference:
Wait for price to pullback at the pivot of 1.0885, a pullback support level. A bounce from this level could lead the price to rise to 1st resistance level 1.0916, and swing high resistance close to 161.8% Fibo extension.
Alternative scenario:
If price breaks below the pivot, ut could fall to 1st support at 1.0856, 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.