On the H4, with the price within the ascending channel, above ichimoku cloud and MACD indicators are above zero, we have a bullish bias that the price may rise from the 1st resistance at 1.30812, where the swing high is to the 2nd resistance at 1.31688, where the swing high and 78.6% fibonacci projection are. Alternatively, price could drop to the 1st support at 1.29837, where the 23.6% fibonacci retracement is.
Trading Recommendation
Entry: 1.30812
Reason for Entry:Swing high
Take Profit:1.31688
Reason for Take Profit:Swing high and 78.6% fibonacci projection
Stop Loss: 1.29837
Reason for Stop Loss:
23.6% fibonacci retracement
