On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise from our 1st support at 1.30780 where the horizontal pullback support and 38.2% Fibonacci retracement are to our 1st resistance at 1.32252 in line with the horizontal swing high resistance. Alternatively, price may not break 1st support and head for 2nd support where the horizontal overlap support is.
Trading Recommendation
Entry: 1.30780 Reason for Entry: Horizontal pullback support and 38.2% Fibonacci retracement
Take Profit: 1.32252
Reason for Take Profit: Horizontal swing high resistance
Stop Loss: 1.29625
Reason for Stop Loss: Horizontal overlap support
