EUR/USD (Euro/US Dollar), a potential bearish reversal scenario is outlined as follows:
Resistance Levels:
The 1st resistance level at 1.0748 is identified as "An Overlap resistance," indicating a significant level where selling pressure may emerge due to a historical clustering of resistance.
The 2nd resistance level at 1.0870 is noted as "Pullback resistance," suggesting an additional barrier to upside movement.
Support Levels:
The 1st support level at 1.0728 is described as "An Overlap support," indicating a significant level where buying interest may emerge due to historical support.
The 2nd support level at 1.0670 is also noted as "An Overlap support," providing additional reinforcement of support in this area.