Title
EURUSD H1 | Bullish Rise
Type
Bullish Continuation
Preference:
The price is falling toward the pivot level at 1.0264, a pullback support, showing signs of bullish momentum. A continuation of this momentum could lead the price to rise towards the 1st resistance at 1.0337, a pullback resistance that aligns with the 61.8% Fibonacci retracememnt and 100% Fibonacci projection.
Alternative Scenario:
If the price breaks below the pivot, it may fall further towards the 1st support at 1.0222, a strong pullback support level.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.