Type: Bearish ReversalKey Levels:Resistance: 33475.75Pivot: 32512.78Support: 31874.79Preferred Case:On the H4, with price breaking out of an ascending trendline and reversing off the stochastic resistance, we have a bearish bias that price will drop from our pivot at 32512.78 where the pullback support is to the 1st support at 31874.79 where the pullback support, 38.2% fibonacci retracement and 78.6% fibonacci projection are.Alternative Scenario:Alternatively, price could break pivot structure and rise to 1st resistance at 33475.75 where the swing high resistance and -61.8% fibonacci expansion are.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/us30usd-h4-or-potential-bearish-continuation"
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