Type:
Bullish Bounce
Preference:
EURUSD is testing our Pivot at 1.15901 in line with 61.8% and 23.6% Fibonacci retracement. Price has the potential to climb higher towards our area of resistance at 1.16649 in line with 161.8% and 61.8% Fibonacci retracement which is a graphical overlap.
Alternative Scenario:
Alternatively, price have the potential to dip to our support at 1.15606 which is a graphical swing low.
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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.