On the H4, price is crossing the ichimoku cloud and breaking the descending trendline, we have a bullish bias that the price may rise from the 1st support at 1.14870, which is in line with the overlap support and previous swing low to the 1st resistance at 1.18641, where the 78.6% fibonacci retracement sits. Alternatively, the price may drop to the 1st support at 1.12730, which is in line with the previous swing low at 1.12730, which is in line with the previous swing low.
Trading Recommendation
Entry: 1.14870
Reason for Entry:
Overlap support and previous swing low
Take Profit: 1.18641
Reason for Take Profit:78.6% fibonacci retracement
Stop Loss: 1.12730
Reason for Stop Loss:
Previous swing low
