Type: Bearish ReversalKey Levels:Resistance: 1.13385 Pivot: 1.12973Support: 1.12335Preferred Case:With price approaching the ichimoku cloud resistance and a graphical horizontal resistance, we have a bearish bias that price will drop from our pivot at 1.12973 in line with the 23.6% Fibonacci retracement to 1st support at 1.12335 in line with the 78.6% Fibonacci retracement and horizontal overlap support.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st resistance at 1.13385 in line with the 61.8% Fibonacci retracement in line with the horizontal swing high resistance.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/eurusd-h4-i-potential-bearish-drop"
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