Looking at the H4 chart, my overall bias for ADUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. Expecting price to continue heading towards the 1st resistance at 0.67711 where the 61.8% Fibonacci line is. In an alternative scenario, price could possibly head back down to retest the 1st support line at 0.65398 where the 50% Fibonacci line is.
Trading Recommendation
Entry: 0.66810
Reason for Entry: 38.2% Fibonacci retracement line
Take Profit: 0.67977
Reason for Take Profit:
Slight above the 1st resistance line & previous swing high
Stop Loss: 0.65848
Reason for Stop Loss:
Previous swing low
