Title

EURUSD  H4 | Bearish Reversal

Type

Bearish Reversal 

Preference:

The price is moving towards the pivot level of 1.1131, which acts as a pullback resistance close to the 50% Fibonacci retracement. A reversal at this level might cause the price to drop to the 1st  support level at 1.1047 an overlap support close to the 78.6% Fibonacci retracement.

Alternative Scenario:

 If the price breaks above  the pivot, it could rise to the 1st resistance level at 1.1205, which serves as a multi swing high resistance.