Title

EURUSD  H4 | Bullish Bounce

Type

Bullish Bounce

Preference:

price has just bounced off the pivot of 1.0942, an overlap support close to the 127.20% Fibonacci extension.  A bounce from this level could lead the price to rise to 1st resistance at 1.1008, a pullback resistance

Alternative Scenario:

If price breaks below the pivot, it could drop to 1st support at  1.0877, an overlap support close to the 161.80% Fibonacci extension