On the H4, price is still respecting the bullish channel- we are bullish bias. Price has rebounded off the support level and is moving toward the first resistance at 110.772 levels where the previous swing high sits. Alternatively, price could pull back to test the first support at 109.323 where the 23.6% retracement sits then the second support at 107.842 where the 61.8% projection and previous swing low sits
Trading Recommendation
Entry: 109.323
Reason for Entry:
23.6% retracement, pull back buy entry
Take Profit: 110.772
Reason for Take Profit:Previous swing high
Stop Loss: 1.1442
Reason for Stop Loss:
161.8% extension, previous swing low
