Type: Bullish BounceKey Levels:Intermediate Resistance: 1988.76 Resistance: 2014.86Pivot: 1927.87Support: 1903.12Preferred Case:Price is moving within the descending trend channel and is approaching pivot level at 1927.87 in line with the 78.6% fibonacci retracement, 100% fibonacci projection and horizontal pullback support. We have a bullish bias that price may bounce off this confluence area and rise to our intermediate overlap resistance at 1988.76 in line with the 38.2% and 23.6% fibonacci retracements, or to our 1st resistance at 2014.86 at the swing high in line with 50% fibonacci retracement and 61.8% fibonacci projection.Alternative Scenario:Price may break pivot at the horizontal pullback support and drop to 1st support at 1903.12 at the swing low.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/ethusd-h1-or-potential-bullish-momentum"
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