Type: Bullish BounceKey Levels:Resistance: 0.72608Pivot: 0.7051Support: 0.69483Preferred Case:On the H4, with price moving above the Ichimoku cloud and price breakout from the descending trendline, we have a bullish bias that price will rise to our 1st resistance at 0.72608 where the 50% Fibonacci retracement is from our pivot at 0.7051 in line with the horizontal overlap support and 23.6% Fibonacci retracement.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 0.69483 where the horizontal swing low support and 61.8% Fibonacci retracement.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/audusd-h4-or-potential-bullish-continuation"
via IFTTT
Subscribe to:
Post Comments (Atom)
-
The new strain of covid found in South Africa could disrupt plans by governments and central banks to rebuild economies. Financial markets a...
-
Fidelity “FIS” is a global financial services technology company and a leader in providing technology solutions to merchants, banks and cap...
-
Asian Equities Sink on Covid FearsIt’s been a mixed start to the week for global equities benchmarks with US and European asset markets rema...
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.