On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise from the 1st support at 139.648 in line with the 38.2% fibonacci retracement to the 1st resistance at 142.692 in line with the 61.8% fibonacci projection. Alternatively, price may drop from the 1st support to the 2nd support at 138.227 at the swing low.
Trading Recommendation Entry: 139.648
Reason for Entry:
38.2% fibonacci retracement
Take Profit: 142.692
Reason for Take Profit:
61.8% fibonacci projection
Stop Loss: 138.227
Reason for Stop Loss:
Horizontal swing low
