Title
EURUSD M15 | Bearish reversal?
Type
Bearish Drop
Preference:
Price has just reacted off our pivot point of 1.0977, which serves as a multi swing high resistance level. A reversal from this point could lead the price to drop to the 1st support at 1.0938, an overlap support level.
Alternative scenario:
If the price breaks above the pivot, it might rise to the 1st resistance at 1.1002, above a swing high resistance 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.