Type: Bearish MomentumKey Levels:Resistance: 1.0791Pivot: 1.0668Support: 1.0364Preferred Case:On the H4, with price moving in a descending trendline on the RSI and price recently breaking the ascending trend channel, we have a bearish bias that price will drop form the pivot at 3834.00 in line with the 50% fibonacci retracement to the 1st support at 3641.25 at the swing low in line with the 61.8% fibonacci projection.Alternative Scenario:Alternatively, price may reverse off the pivot and rise to the 1st resistance at 3940.75 at the swing high in line with the 61.8% fibonacci retracement and 61.8% fibonacci projection.Fundamentals:No major news
Source: Tickmill
