Type: Bullish BounceKey Levels:Resistance: 0.007489Pivot: 0.007372Support: 0.007342Preferred Case:On the H4, with price recently breaking the descending trendline and moving above the ichimoku cloud , we have a bullish bias that price will continue to rise from the pivot at 0.007372 at the swing low in line with the 61.8% fibonacci projections to the 1st resistance at 0.007489 at the swing high in line with the 23.6% fibonacci retracement and 100% fibonacci projection .Alternative Scenario:Alternatively, price may reverse off the pivot and drop to the 1st support at 0.007342 at the swing low in line with the 78.6% fibonacci projection .Fundamentals:No major news
Source: Tickmill
