Description:On the H4, with prices moving above the ichimoku indicator, we have a bullish bias that price will rise from our 1st support at 1.22351 where the horizontal swing low support is to our 1st resistance at 1.23987 in line with the 61.8% fibonacci projection, 61,8% fibonacci retracement and overlap resistance. Alternatively, price may break 1st support structure and head for 2nd support at 1.21855 where the horizontal overlap support and 50% fibonacci retracement are.
Trading RecommendationEntry: 1.22351Reason for Entry:horizontal swing low support
Take Profit: 1.23987Reason for Take Profit:61.8% fibonacci projection, 61,8% fibonacci retracement and overlap resistance
Stop Loss: 1.21855Reason for Stop Loss: horizontal overlap support and 50% fibonacci retracement
