Type: Bullish BounceKey Levels:Resistance: 1.27943Pivot: 1.27156Support: 1.26647Preferred Case:With prices moving above the Ichimoku cloud, we see the potential for a bounce from our pivot at 1.27156 in line with horizontal overlap support and 50% Fibonacci retracement towards our 1st resistance at 1.27943 in line with horizontal swing high resistance and 61.8% Fibonacci retracement.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 1.26647, in line with the horizontal swing low support.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdcad-h4-i-potential-rise-type"
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