Type: Bullish BounceKey Levels:Resistance: 23.069 Pivot: 22.464Support: 22.299Preferred Case:Prices have recently broken out of our descending trendline resistance and are on bearish momentum. We see the potential for further bullish continuation from our Pivot at 22.464 in line with 38.2% Fibonacci retracement and 78.6% Fibonacci retracement towards our 1st resistance at 23.069 in line with 100% Fibonacci retracement and 127.2% Fibonacci extension.Alternative Scenario:Alternatively, prices may dip towards our 1st support at 22.299 in line with 23.6% Fibonacci retracement.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/xagusd-h4-or-potential-trendline-breakout"
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