Type: Bullish BreakoutKey Levels:Resistance: 1723.41 Pivot: 1649.12 Support: 1559.9Preferred Case: On the H4, with price moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise to pivot at 1649.12 where the pullback resistance is. Once there is upside confirmation that price has broken pivot structure, we would expect bullish momentum to carry price to 1st resistance at 1723.41 where the swing high resistance and 78.6% fibonacci projection are.Alternative Scenario: Alternatively, price could drop to the 1st support at 1559.9 where the overlap support is.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/ethusd-h4-or-potential-bullish-rise9"
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