Type:
Bearish Drop

Key Levels:
Resistance:
3.9600
Pivot:
3.6885
Support:
3.5545

Preferred Case:
Looking at the H4 chart, my overall bias for HG1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to head back down towards the pivot at 3.6885 where the 61.8% Fibonacci line is.

Alternative Scenario:
Price may possibly head towards the resistance at 3.9600, where the previous swing high is.

Fundamentals:
There are no major news.