Title
EURUSD H1 | Falling to support level?
Type
Bearish Drop
Preference:
Price is currently at the pivot point of 1.0994, an overlap resistance, A reverse from this point could cause the price to fall to 1st support at 1.0875. a multi-swing low support level.
Alternative scenario:
If price breaks above the pivot, it might rise to 1st resistance at 1.0923, an overlap resistance that closes to 50% Fibo retracement,
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.