Type: Bullish BounceKey Levels:Resistance: 0.94273Pivot: 0.92957Support: 0.92569Preferred Case:On the H4, with price expected to bounce off the support of the stochastics indicator, Ichimoku cloud and the support of a potential ascending channel , we have a bias that price will rise to our 1st resistance at 0.94273 in line with the 78.6% Fibonacci retracement from our pivot at 0.92957 in line with the horizontal overlap support and 50% Fibonacci retracementAlternative Scenario:Alternatively, price may break pivot structure structure and head for 1st support at 0.92569 in line with the horizontal swing low support and 61.8% Fibonacci retracement.
Source: Tickmill
