Type: Bearish ReversalKey Levels:Resistance: 1.03551 Pivot: 1.0231Support: 1.00075Preferred Case:On the H4, with price moving below the ichimoku cloud and in a descending trendline, we have a bearish bias that price will continue to drop from the pivot at 1.0231 in line with the 161.8% fibonacci extension and 100% fibonacci projection to the 1st support at 1.00075 in line with the 100% fibonacci projection and -61.8% fibonacci expansion.Alternative Scenario:Alternatively, price may reverse off pivot and rise to the 1st resistance at 1.03551 at the pullback swing low in line with the 61.8% fibonacci projection.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/eurusd-h4-or-potential-bearish-continuation-type"
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