Type:
Bullish Rise
Key Levels:
Resistance: 1846.5
Pivot: 1813.9
Support: 1786.9
Preferred Case:
On the H4, with price going along the ascending channel above the ichimoku cloud, we have a bullish bias that the price may rise from the pivot at 1813.9, which is in line with the overlap resistance and 78.6% fibonacci retracement to the 1st resistance at 1846.5, which is in line with the swing highs.
Alternative Scenario:
Alternatively, price could break pivot structure and drop to the 1st support at 1786.9, which is in line with the overlap resistance and 23.6% fibonacci retracement.
Fundamentals:
No major news events.
Source: Tickmill