Type: Bullish BreakoutKey Levels:Resistance: 34296.57Pivot: 33461.36Support: 32586.42Preferred Case:On the H4, with price moving along the ascending trendline and bouncing off the stochastic support, we have a bullish bias that price will rise to pivot at 33461.36 where the pullback resistance and 50% fibonacci retracement are. Should price break pivot structure, we would expect bullish momentum to carry price to 1st resistance at 34296.57 where the swing high resistance, 127.2% fibonacci extension, -27.2% fibonacci expansion and 78.6% fibonacci projection are.Alternative Scenario:Alternatively, price could drop to 1st support at 32586.42 where the pullback support and 38.2% fibonacci retracement are.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/us30usd-h4-or-potential-bullish-rise"
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