Title
EURUSD H4 | Bearish Breakout
Type
Bearish Drop
Preference:
Price is falling toward the pivot point of 1.0761 which is a multi-swing low support level. A breakout from this level price could continue to fall to 1st support at 1.0727, a swing low support level
Alternative scenario:
If price bounces the pivot, it could ride to 1st resistance at 1.0808, above a swing high resistance
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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.