CADJPY, H4 | Potential For Dip

cadjpy,-h4-|-potential-for-dip

Type: Bearish ReversalKey Levels:Resistance: 91.218Pivot: 91.027Support: 90.456Preferred Case:Prices are on bearish momentum and abiding to our descending trendline. We see the potential for a dip from our Pivot 91.027 in line with 61.8% Fibonacci extension and 100% Fibonacci retracement towards our 1st support at 90.456 in line with 61.8% FIbonacci extension. Ichimoku clouds are depicting potential for further dips and RSI are at levels where dips previously occured.Alternative Scenario:Alternatively, prices may climb towards our 1st resistance at 91.218 in line with 78.6% Fibonacci extension.

Source: Tickmill

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