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EURUSD, H4 I Potential for a Bullish Bounce.

Preference:

With price moving above the ichimoku cloud, we have a bullish bias that price will rise from pivot at 1.12819 in line with the 61.8% Fibonacci retracement, horizontal swing low support and it is where the support of the ichimoku cloud to 1st resistance at 1.13486 in line with the 61.8% Fibonacci projection and horizontal swing high resistance. Do take note of the intermediate resistance at 1.13182.

Alternative Scenario: Alternatively, price may break pivot structure and dip to 1st support at 1.12337 in line with the 100% Fibonacci projection level and the horizontal swing low support.

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