Type:
Bearish Drop

Key Levels:
Resistance:
1835.0
Pivot:
1744.0
Support:
1656.5

Preferred Case:
On the H4 chart, we have a bearish bias. To add confluence to this, price is crossing below the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect price to possibly break the pivot at 1744.0, where the 50% Fibonacci line is, before heading towards the support at 1656.5, where the previous swing low is.

Alternative Scenario:
Price may possibly head back up towards the resistance at 1835.0, where the 78.6% Fibonacci projection line is.

Fundamentals:
There are no major news.