Type: Bullish BounceKey Levels:Resistance: 1.11886Pivot: 1.10567Support: 1.09501Preferred Case:We see the potential for a bullish bounce from our pivot level at 1.10567 in line with 78.6% Fibonacci projection and 50% Fibonacci retracement towards our 1st resistance at 1.11886 in line with 100% Fibonacci projection and 61.8% Fibonacci retracement. Our bearish bias is supported by price trading below the Ichimoku cloud indicator.Alternative Scenario:Alternatively, price might continue to drop to the 1st support level at 1.09501 in line with a graphical low support.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/eurusd-h4-potential-for-bullish-bounce"
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