Type: Bearish ReversalKey Levels:Resistance: 0.90689Pivot: 0.90421Support: 0.89571Preferred Case:On the H4, with prices moving below the ichimoku indicator, price breakout from ascending trendline, we have a bearish bias that price will drop from our pivot at 0.90421 where the horizontal pullback resistance is to our 1st support at 0.89571 where the horizontal swing low support, 200% fibonacci extension and 78.6% fibonacci retracement are.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st resistance at 0.90689 in line with swing high resistance.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/audcad-h4-or-potential-bearish-momentum"
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