Type: Bullish BounceKey Levels:Resistance: 0.65474Pivot: 0.64133Support: 0.62898Preferred Case:On the H4, with price moving above the Ichimoku cloud and price breakout from the descending trendline, we have a bullish bias that price will rise to our 1st resistance at 0.65474 where the 38.2% Fibonacci retracement and horizontal swing high resistance are from our pivot at 0.64133 in line with the overlap support. Take note of intermediary support at 0.63684 where the overlap support is.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 0.62898 where the swing low support is.
Source: Tickmill
