EURUSD, H4 I Potential For A Drop!


Type: Bearish ReversalKey Levels:Resistance: 1.13879Pivot: 1.13602Support: 1.12729Preferred Case:With price approaching a significant area of resistance on the graphical level and the stochastics indicator, we are biased that price will drop from pivot at 1.13602 in line with the 78.6% Fibonacci retracement and said resistance to 1st support at 1.12729 where the swing low support and 78.6% Fibonacci retracement is.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st resistance at 1.13879 in line with the 161.8% Fibonacci extension level.

Source: Tickmill

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