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 and 78.6% Fibonacci line are. 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: 0.68293
Reason for Entry: Immediate entry to take advantage of the bullish momentum
Take Profit: 0.69161
Reason for Take Profit:
1st resistance line and previous swing high
Stop Loss: 0.67427
Reason for Stop Loss:
Slightly below the 1st support line and previous low
