Type: Bullish BounceKey Levels:Resistance: 1.27314Pivot: 1.26335Support: 1.25936Preferred Case:With price approaching the support of the stochastics indicator and horizontal support on the graphical levels, we are biased that price will do a pullback from pivot at 1.26335 in line with the 61.8% Fibonacci retracement to 1st resistance at 1.27314 in line with the 50% Fibonacci retracement and horizontal overlap resistance where it's closer to the recent trendline breakout before continuing with its overall bearish momentum.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 1.25936 in line with the horizontal swing low support.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdcad-h4-i-potential-for-a-bullish-pullback"
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