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EURUSD, H4 | Potential For Bounce

30540 eurusd h4 potential for bounce

Type: Bullish BounceKey Levels:Resistance: 1.13889Pivot: 1.13Support: 1.12831Preferred Case:Prices are at a pivot and are abiding to our daily ascending trendline support. We see the potential for a bounce towards our 1st resistance at 1.13888 in line with 50% Fibonacci retracement and 161.8% Fibonacci Projection. RSI are at levels where bounces previously occurred.Alternative Scenario:Alternatively, prices may dip towards our 1st support at 1.12831 in line with 100% Fibonacci retracement.

Source: Tickmill

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