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EURUSD, H4 I Approaching Pivot, Potential For A Drop!

29885 eurusd h4 i approaching pivot potential for a drop

Type: Bearish ReversalKey Levels:Resistance: 1.15137Pivot: 1.14603Support: 1.13846Preferred Case:With price approaching the resistance of the stochastics indicator, we are bias that price will drop from our pivot at 1.14603 in line with the 161.8% Fibonacci extension and swing high resistance to 1st support at 1.13846 in line with 38.2% Fibonacci retracement and horizontal overlap support.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st resistance at 1.15137 in line with the horizontal overlap resistance.

Source: Tickmill

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