Type:
Bearish Drop
Key Levels:
Resistance: 1.0010
Pivot: 0.9929
Support: 0.9887
Preferred Case:
On the H4, with price moving below the ichimoku indicator, we have a bearish bias that price will drop from pivot at 0.9929 where the previous swing lows are to the 1st support at 0.9887 where the swing low is.
Alternative Scenario:
Alternatively, price could break pivot structure and rise to 1st resistance at 1.0010 where the swing high and 23.6% fibonacci retracement are.
Fundamentals:
Eurozone Services PMI are out today, most of them are lower than forecast.
Source: Tickmill