Type: Bearish ReversalKey Levels:Resistance: 1.12191Pivot: 1.11375Support: 1.10394Preferred Case:We see the potential for a bearish reversal from our pivot level of 1.11375 in line with 61.8% Fibonacci projection and 50% Fibonacci retracement towards our 1st support at 1.10394 in line with 50% Fibonacci retracement and 61.8% Fibonacci projection. Our bearish bias is supported by the stochastic indicator where price is at resistance level.Alternative Scenario:Alternatively, price might continue to rise up to 1st resistance level of 1.12191 in line with 78.6% Fibonacci projection and 61.8% Fibonacci retracement.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/eurusd-h4-or-potential-for-bearish-reversal30"
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