On the H4, with price moving within the descending trendline and below the ichimoku indicator, we have a bearish bias that price will drop from 1st support at 0.61942, where the overlap support and 61.8% fibonacci retracement are to the 2nd support at 0.61565, where the swing low is. Alternatively, price could rise to 1st resistance at 0.62477, which is in line with the swing highs.
Trading Recommendation
Entry: 0.61942
Reason for Entry:Overlap support and 61.8% fibonacci retracement
Take Profit: 0.61565
Reason for Take Profit:Swing low
Stop Loss: 0.62477
Reason for Stop Loss:
Swing highs
