On the H4, with the price moving within the ascending channel, above ichimoku cloud, we have a bullish bias that the price may rise from the 1st resistance at 1.31668, where the swing highs are, If the price can break the 1st resistance, we can expect the price rise to the 2nd resistance at 1.32238, where the swing high is. Alternatively, price could pullback from the 1st resistance and drop to the 1st support at 1.30635, where the overlap support and 23.6% fibonacci retracement are.
Trading Recommendation
Entry: 1.31668
Reason for Entry:Swing highs
Take Profit:1.32238
Reason for Take Profit:
Significant swing high
Stop Loss: 1.30635
Reason for Stop Loss:
Overlap support and 23.6% fibonacci retracement
