Bullish Bounce Pivot: 1.18331
Support: 1.17869
Resistance: 1.18677
Preference: If EURUSD H4 can close above the pivot, we could potentially see it swing towards 1st resistance, in-line with 61.8% Fibonacci retracement and 78.6% Fibonacci extension.
Alternative Scenario: Alternatively, price could potentially drop from the pivot, we may see it swing towards 1st support, in-line with 50% Fibonacci retracement and n78.6% Fibonacci extension
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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.