Type: Bearish ReversalKey Levels:Resistance: 1784.2Intermediate Resistance: 1712.0Pivot: 1784.2Support: 1664.3Intermediate support: 1693.9Preferred Case:On the H4, with price moving below the ichimoku cloud and in a descending trendline, we have a bearish bias that price will drop if price breaks the intermediate support at 1693.9 at the swing low to the 1st support at 1664.3 in line with the 100% fibonacci projection .Alternative Scenario:Alternatively, if price breaks the intermediate pullback resistance at 1712.0, price may rise to the pivot at 1784.2 at the swing high in line with the 23.6% fibonacci retracement . If price breaks the pivot, we have upside confirmation that price will continue to rise to the 1st resistance at 1784.2 at the pullback resistance in line with the 50% fibonacci retracement.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/gc1-h4-or-potential-bearish-continuation18"
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