Type: Bearish ReversalKey Levels:Resistance:1.57477Pivot: 1.57094Support: 1.56246Preferred Case:Prices are on bearish momentum and abiding to our bearish trendline. We see the potential for a dip from our Pivot at 1.57094 in line with 61.8% Fibonacci extension towards our 1st support at 1.56246 in line with 61.8% Fibonacci retracement. Our bearish bias is further supported by Ichmoku clouds showing bearish momentum and also RSI at levels where dips previously occurred.Alternative Scenario:Alternatively, prices may climb towards our 1st resistance at 1.57477 in line with 78.6% Fibonacci extension.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/euraud-h4-or-bearish-drop"
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