EURCAD, H4 | Potential Bullish Momentum

eurcad,-h4-|-potential-bullish-momentum

Type: Bullish BounceKey Levels:Resistance: 1.37016 Pivot: 1.36069 Support:1.35508Preferred Case:On the H4, with prices moving above the ichimoku indicator, we have a bullish bias that price will drop and rise from our pivot at 1.36069 where the horizontal pullback support, 61.8% fibonacci projection and 38.2% fibonacci retracement to our 1st resistance at 1.37016 in line with the 78.6% fibonacci retracement and swing high resistance.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 1.35508 where the horizontal pullback support, 50% fibonacci retracement and 78.6% fibonacci projection are.

Source: Tickmill

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