Type: Bullish BounceKey Levels:Resistance: 1.3018Pivot: 1.28596Support: 1.27179Preferred Case:On the H4, with price expected to bounce off ichimoku support, we have a bullish bias that price will rise from our pivot at 1.28596 where the horizontal swing low support and 38.2% Fibonacci retracement is to our 1st resistance at 1.3018 in line with the horizontal swing high resistance and 61.8% fibonacci projection.Alternative Scenario:Alternatively, price may break structure and head for 1st support at 1.27179 where the horizontal pullback support, 61.8% fibonacci projection and 61.8% fibonacci retracement .
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdcad-h4-or-potential-for-bullish-momentum"
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