On the H4, prices are on bullish momentum. We see the potential for a bounce from our 1st support at 1.30890 which is a graphical overlap and in line with 100% Fibonacci Projection towards our 1st resistance at 1.32232 in line with 61.8% Fibonacci Projection. Ichimoku clouds are showing green clouds, further supporting our bullish bias. Alternatively, breaking the 1st support will call for a further bullish continuation towards our 2nd support at 1.29999 which was a graphical swing low and in line with 161.8% Fibonacci Projection.
Trading Recommendation
Entry: 1.30890
Reason for Entry:
100% Fibonacci Projection
Take Profit: 1.32232
Reason for Take Profit:61.8% Fibonacci Projection
Stop Loss: 1.29999
Reason for Stop Loss:
Graphical swing low and in line with 161.8% Fibonacci Projection
