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 0.69161, where the previous swing high is. In an alternative scenario, price could possibly head back down to retest the 1st support line at 0.67711 where the 61.8% Fibonacci line is.
Trading Recommendation
Entry: 0.67711
Reason for Entry: 1st support line
Take Profit: 0.69161
Reason for Take Profit:
1st resistance line and previous swing high
Stop Loss: 0.65849
Reason for Stop Loss:
2nd support line and previous swing low
