Title
EURUSD H1 I Bearish Drop
Type
Bearish Reversal
Preference:
The price may make a bearish reversal off the pivot level at 1.0874, a pullback resistance. A drop from this level could lead the price toward the 1st support at 1.0782, a swing low support that aligns close to the 127.2% Fibonacci extension.
Alternative Scenario:
If price breaks above the pivot, it could rise toward the 1st resistance at 1.0953, a swing high resistance.
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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.