EURUSD H1 is approaching pivot, in-line with 61.8% Fibonacci retracement and 161.8% Fibonacci extension. We may potentially see a bounce towards the 1st resistance level, in-line with 38.2% and 50% Fibonacci retracement and horizontal overlap resistance. If price breaks the pivot, we may see it swing towards 1st support, in-line with 78.6% Fibonacci retracement and 200% Fibonacci extension.
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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.