Type: Bullish BounceKey Levels:Resistance: 1.37497Pivot: 1.36243Support: 1.35893Preferred Case:On the H4, with prices moving above the ichimoku indicator and along the ascending trendline, we have a bullish bias that price will rise to our 1st resistance at 1.37497 where the 78.6% fibonacci retracement, 161.8% fibonacci extension and swing high resistance are from our pivot at 1.36243 in line with the horizontal swing low support.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 1.35893 where the horizontal overlap support is.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/eurcad-h4-or-potential-bullish-continuation"
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