Type: Bullish BounceKey Levels:Resistance: 1.0947 Pivot: 1.08666Support: 1.08072Preferred Case:Prices are approaching a pivot which is an area of Fibonacci confluences. We see the potential for a short bounce from our Pivot at 1.08666 towards our 1st resistance at 1.0947 in line with 23.6% Fibonacci retracement. RSI is at levels where bounces previously occurred.Alternative Scenario:Alternatively, prices may dip towards our 1st support at 1.08072 which is a swing low.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/eurusd-h4-or-potential-for-bounce6"
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