Type: Bearish ReversalKey Levels:Resistance: 0.74889Pivot: 0.74587Support: 0.73563Preferred Case:On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will rise and drop from the pivot at 0.74587 in line with the 78.6% fibonacci retracement and pullback resistance to the 1st support at 0.73563 at the horizontal swing low and 78.6% fibonacci projectionAlternative Scenario:Alternatively, price may rise above the pivot to the 1st resistance at 0.74889 in line with the swing high resistance and 38.2% fibonacci retracement.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/cadchf-h4-or-potential-bearish-continuation"
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