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 support at 1.31069, where the 38.2% fibonacci retracement is to the 1st resistance at 1.31668, where the swing high is. Alternatively, the price may drop to the 2nd support at 1.30545, where the 50% fibonacci retracement and previous swing high are.
Trading Recommendation
Entry: 1.31069
Reason for Entry: 38.2% fibonacci retracement
Take Profit: 1.31668
Reason for Take Profit:Swing high
Stop Loss: 1.30545
Reason for Stop Loss:
50% fibonacci retracement and previous swing high
