Title

EURUSD  H4 | Bearish Drop

Type

Bearish Drop

Preference:

The price is falling from the pivot level of 1,1048, which acts as a pullback resistance. A drop from this level might cause the price to drop to the 1st  support level at 1.0989 a pullback support close to the 50%% Fibonacci retracement.

Alternative Scenario:

 If the price breaks above  the pivot, it could rise to the 1st resistance level at 1,1092, which serves as a pullback resistance.