Type: Bullish BounceKey Levels:Resistance: 1.28382Pivot: 1.27319Support: 1.26796Preferred Case:With price approaching the graphical horizontal support which aligns with the support of the ichimoku cloud and 61.8% Fibonacci retracement level at our pivot of 1.27319, we are bias for a bounce up from there to 1st resistance at 1.28382 in line with the horizontal overlap resistance.Alternative Scenario:Alternatively, we may see price break pivot and ichimoku structure and drop to 1st support at 1.26796 in line with the 78.6% Fibonacci retracement.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdcad-h4-i-potential-bullish-bounce"
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