Type: Bullish BounceKey Levels:Resistance: 1.07635Pivot: 1.06578Support: 1.05852Preferred Case:On the H4, price recently broke the descending trendline and is moving above ichimoku cloud which supports our bullish bias that price will rise from our pivot at 1.06578 in line with the 38.2% fibonacci retracement and 100% fibonacci projection, to our 1st overlap resistance at 1.07635 in line with the 50% fibonacci retracement.Alternative Scenario:Price may break pivot level and drop to 1st horizontal pullback support at 1.05852 in line with the 61.8% fibonacci projection.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/eurusd-h4-or-potential-bullish-continuation"
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