On the H4 chart, we have a bullish bias with the price moving above the Ichimoku cloud and has broken out of the ascending channel. If this bullish momentum continues, expect the price to continue heading towards the 1st resistance line at 0.63525, where the 88% Fibonacci line is. Alternatively, the price may head back down and retest the 1st support at 0.62044, slightly below where the 78.6% Fibonacci line is.
Trading Recommendation
Entry: 0.62044
Reason for Entry:
1st support line
Take Profit: 0.63525
Reason for Take Profit:1st resistance line
Stop Loss: 0.60637
Reason for Stop Loss:
2nd support
