EUR/USD Under Bearish Pressure
Tickmill | Jan 24, 2022 03:21AM ET
Type: Bearish Reversal
Key Levels: Resistance: 1.1419, Pivot: 1.13683 and Support: 1.13097
Preferred Case: With EUR/USD moving below the Ichimoku cloud, we have a bearish bias that price will from our pivot at 1.13683 which is in line with horizontal swing high resistance and 38.2% Fibonacci retracement to 1st support at 1.13097, which is in line with horizontal swing low support.
Alternative Scenario: Alternatively, the price may break pivot structure and head for 1st resistance at 1.1419, which coincides with horizontal swing high resistance and 61.8% Fibonacci retracement.
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