On H4, with the price moving above the ichimoku cloud and ascending trendline, we have a bullish bias that the price may rise to the 1st resistance at 1.00928, which is in line with the swing highs. If the 1st resistance is broken, the 2nd resistance is at 1.01908, where the previous swing highs are. Alternatively, the price may drop to the 1st support at 1.00150, where the 23.6% fibonacci retracement is. If the 1st support is broken, the 2nd support is at 0.98754, where the 61.8% fibonacci retracement sits.
Trading Recommendation
Entry: 1.00928
Reason for Entry:Swing highs
Take Profit: 1.01908
Reason for Take Profit:
previous swing highs
Stop Loss: 1.00150
Reason for Stop Loss:
23.6% fibonacci retracement
