Type :
Bearish Drop
Key Levels:
Resistance : 0.0072070
Pivot: 0.0070830
Support : 0.0069070
Preferred Case:
On the H4, with price moving below the ichimoku indicator and descending trendline, we have a bearish bias that price may drop from the pivot at 0.0070830 where the 23.6% fibonacci retracement is to the 1st support at 0.0069070 where the significant swing low is.
Alternative scenario:
Alternatively, price could rise to 1st resistance at 0.0072070 where the 38.2% fibonacci retracement and swing low are.
Fundamental:
no major news.
Source: Tickmill
