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FX.co ★ EURUSD, H4 | Potential bullish reversal?

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Forex Analysis:::2023-07-28T05:04:53

EURUSD, H4 | Potential bullish reversal?

EURUSD, H4 | Potential bullish reversal?

The EUR/USD pair is showing a bullish trend, with the price above a significant ascending trend line, suggesting further bullish momentum. The price might bounce off the 1st support at 1.0975, significant due to its alignment with two Fibonacci levels, towards the 1st resistance. A 2nd support lies at 1.0882, also a Fibonacci confluence. The resistances are at 1.1022 (pullback) and 1.1146 (swing high). The RSI also displays a bullish divergence, suggesting a possible bullish bounce soon

Analyst InstaForex
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