Type: Bullish MomentumKey Levels:Resistance: 0.7798Pivot: 0.7715Support: 0.7657Preferred Case:On the H4, with price recently breaking the descending trendline and RSI showing a bullish divergence, we have a bullish bias that price will rise from the pivot at 0.7715 at the overlap resistance in line with the 100% fibonacci projection to the 1st resistance at 0.7798 at the swing high in line with the 38.2% fibonacci retracement.Alternative Scenario:Alternatively, price may reverse off the pivot and drop to the 1st support at 0.7657 at the overlap swing low in line with the 61.8% fibonacci projection.Fundamentals:No major news
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/micro-cad-usd-futures-mcd1-h4-potential-for-bullish-rise"
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