Title
EURUSD M5 | Bullish bounce
Type
Bullish Bounce
Preference:
Price is falling toward the pivot point at 1.0925 that aligns with the 161.8% Fibo extension. A bounce from this point, could lead the price to rise to 1st resistance at 1.0946
Alternative scenario:
If price breaks below the pivot, it might fall to 1st support level 1.0900
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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.