Type: Bullish BounceKey Levels:Resistance: 0.6325Pivot: 0.62025Support: 0.61394Preferred Case:On the H4, with price recently breaking the descending trend channel, short term ascending support and moving above the ichimoku cloud, we have a bullish bias that price will rise from the pivot at 0.62025 at the overlap support. If price breaks the intermediary resistance at 0.62702 at the swing high in line with the 61.8% fibonacci retracement and 100% fiboancci projection, we will have upside confirmation that price will rise to the 1st resistance at 0.6325 at the swing high in line with the 78.6% fibonacci retracement.Alternative Scenario:Alternatively, price may break the support structure at the pivot and drop to the 1st support at 0.61394 at the pullback support.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/nzdusd-h4-or-potential-bullish-continuation21"
via IFTTT
Subscribe to:
Post Comments (Atom)
-
The new strain of covid found in South Africa could disrupt plans by governments and central banks to rebuild economies. Financial markets a...
-
Fidelity “FIS” is a global financial services technology company and a leader in providing technology solutions to merchants, banks and cap...
-
Asian Equities Sink on Covid FearsIt’s been a mixed start to the week for global equities benchmarks with US and European asset markets rema...
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.