FX.co ★ EURUSD Potential For Bullish Continuation | 2nd August 2022

On the H4, prices have broken the bearish trend moving into a bullish biased trend. Price is now testing at the resistance 1.028, 50% Fibonacci retracement level. If price continues in the ascending trend, it will pullback further to test at the second resistance which is also a key swing low level and 61.8% Fibonacci retracement at 103.6. Alternatively, if prices bounces off the resistance level, it will test at the first support 1.011.Trading Recommendation

Entry: 1.208

Reason for Entry: Bullish continuation

Take Profit: 1.036

Reason for Take Profit: 61.8 Fibonacci retracement

Stop Loss: 1.01

Reason for Stop Loss:

Swing low intermediate support level