Title
EURUSD H4 | A reverse from resistance level
Type
Bearish Reversal
Preference:
Price has reversed from our pivot point at 1.09098 which is multi swing high resistance. if price were to break above it could push up to 1st resistance at 1.09642 which is another swing high resistance level.
Alternative scenario:
On the other hand, if price were to reverse it could drop to 1st support at 1.08528 which lines up with a 50% Fibo 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.