FX.co ★ EURUSD, H4 | Potential bearish reversal?

The EURUSD instrument is currently bullish, with short-term expectations suggesting a potential drop to the first support level before bouncing towards the first resistance.

The first support at 1.1096 is considered favorable as a pullback support at the 38.20% Fibonacci retracement level.

The second support level at 1.1011 is an overlap support at the 61.80% Fibonacci retracement level.

Regarding resistance levels, the first resistance at 1.1096 is notable as a pullback resistance at the 38.20% Fibonacci retracement level.

The second resistance at 1.1172 is considered strong as a pullback resistance at the 61.80% Fibonacci retracement level.