Title

EURUSD  H4 | Bearish Breakout

Type

Bearish Breakout

Preference:

The price is falling from the pivot level of 1.1008, which acts as an overlap support. A drop from this level might cause the price to drop to the 1st  support level at 1.0942 a pullback support close to the 127.20 Fibonacci extension

Alternative Scenario:

If the price bounces off the pivot, it may rise to the first resistance level at 1.1078, which acts as an overlap resistance.