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EURUSD, H4 is approaching pivot, potential for a rise!

Preference:

Price may retest at our pivot level at 1.16314 which is in line with horizontal swing low support, 38.2% Fibonacci retracement level . We could potentially see a further rise from here towards 1st resistance at 1.16667, which coincides with our horizontal swing high resistance. Our bullish bias is further supported by the ascending channel.

Alternative Scenario:

Alternatively, we may see price break pivot structure and head for 1st support at 1.16212, which coincides with 50% Fibonacci retracement level and horizontal overlap support.

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