Title

EURUSD H4 | Bearish Breakout

Type

Bearish Breakout

Preference:

price is rising toward of the pivot of 1.1113, a pullback resistance .A reverse from this level could lead the price to fall to 1st support at 1.1047, a pullback support close to the 78.6% Fibonacci Retracement.

Alternative Scenario:

If price breaks above the pivot, it could rise to 1st resistance at 1.1149, an overlap resistance level.