Type: Bullish BounceKey Levels:Resistance: 104.941Pivot: 103.404 Support: 102.747Preferred Case:On the H4, with prices expected to bounce off ichimoku support and prices moving along the ascending trendline, we have a bullish bias that bullish momentum will carry prices from our pivot at 103.404 where the 61.8% fibonacci projection, 50% fibonacci retracement and swing low support are, after price has dropped to the pivot level, to our 1st resistance at 104.941 in line with the horizontal swing high resistance. Take note of intermediate support at 103.928 where the swing low support is.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 102.747 where the horizontal overlap support and 78.6% fibonacci projection are.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/dxy-h4-or-potential-for-bullish-momentum"
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