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FX.co ★ EURUSD, H4 | Continue to 1st resistance?

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Forex Analysis:::2023-08-23T05:07:24

EURUSD, H4 | Continue to 1st resistance?

EURUSD, H4 | Continue to 1st resistance?

The EUR/USD chart indicates a bullish trend. There's a chance the price could rebound from the 1st support at 1.0835, seen as a multi-swing low, and move towards the 1st resistance at 1.0890, identified as a pullback resistance with confluences of 61.80% and 23.60% Fibonacci Retracements. The 2nd support at 1.0795 aligns with a 61.80% Fibonacci Projection, while the 2nd resistance at 1.0929, an overlap resistance, coincides with a 38.20% Fibonacci Retracement. This suggests a potential bullish bounce from the 1st support aiming for the 1st resistance.

Analyst InstaForex
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