EURUSD H4 | Bouncing off support?

TitleEURUSD H4 | Bouncing off support?TypeBullish BouncePreference:The price has just bounced off the pivot point at 1.05841, which aligns with 78.6% Fibo projection and 161.8% Fibo extension level. A bounce from this level could lead the price to rally toward the 1st resistance at 1.06186, which is a pullback resistance.Alternative scenario:However, if the price breaks below the pivot, it might decline to the 1st support at 1.05437, below the 100% Fibo projectionTo discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.