For EUR/USD, there's a potential bullish bounce scenario:
Description: The chart indicates a potential bullish bounce, with significant support identified at two levels.
Support Levels:
The 1st support level is at 1.0799, noted as "An Overlap support." This level suggests a historical area where the price has found support, indicating potential buying interest.
The 2nd support level is positioned at 1.0708, recognized as "An Overlap support." Similar to the 1st support, this level represents another historical zone where price has found support, suggesting a strong level of buying interest.
Resistance Levels:
The 1st resistance level is observed at 1.0892, characterized as "Multi-swing high resistance." This level indicates a historical barrier where the price has encountered selling pressure after reaching previous highs.
The 2nd resistance level is located at 1.0983, designated as "An Overlap resistance." Like the 1st resistance, it represents another historical level where the price has struggled to move above due to selling pressure.
