EURUSD H4 | Bearish Reversal
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.