Type: Bearish ReversalKey Levels:Resistance: 1.25908Pivot: 1.25304Support: 1.24513Preferred Case:On the H4, with price moving below the Ichimoku cloud, we expect to see a potential for bearish drop from our pivot of 1.25304 in line with the 23.6% fibonacci retracement and 61.8% Fibonacci projection towards our 1st support level at 1.24513 in line with the swing low support.Alternative Scenario:Alternatively, If price breaks out, it can potentially move towards our 1st resistance level at 1.25908 which is in line with the 38.2% Fibonacci retracement and 100% Fibonacci projection.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdcad-h4-i-potential-drop4"
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