USOUSD H1 | Potential bullish rise
Title
USOUSD H1 | Potential bullish rise
Type
Bullish bounce
Preference
The price has bounced off the pivot at 94.95, a pullback support. A rise from this level could lead the price toward the 1st resistance level at 102.78, a pullback resistance that aligns with the 61.8% Fibonacci retracement and the 61.8% Fibonacci projection.
Alternative Scenario
If the price breaks above the pivot, it could rise to the 1st support at 88.80, a pullback support.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.