Title
EURUSD H4 | Potential bullish breakout
Type
Bullish Breakout
Preference:
EURUSD could breakout of the pivot at 1.11381, the swing-high resistance, and the price could then rise to the 1st resistance at 1.12531, the swing-high resistance.
Alternative scenario:
Price could reverse from the swing-high resistance at 1.11381, and fall to the 1st support at 1.10641, the pullback support.
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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.