Type: Bearish ReversalKey Levels:Resistance: 1.13862Pivot: 1.13593Support: 1.12985Preferred Case:Price is reacting below our pivot level at 1.13593 which is in line with horizontal overlap resistance. Price can potentially drop to 1st support at 1.12985, which is in line with 61.8% Fibonacci retracement level and horizontal swing low support. This is further supported by how price is likely to reverse off the Stochastic resistance level.Alternative Scenario:Alternative Scenario:Alternatively, price may rise up to our 1st resistance at 1.13862, which coincides with 127.2% Fibonacci extension level and horizontal swing high resistance .
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/eurusd-4h-i-potential-for-a-drop"
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