Potential Bullish Continuation

27 Haz 2022

On the H4, with price moving in an ascending trendline and above the ichimoku cloud, we have a bullish bias that price will continue to rise from the 1st support at 1.04861 in line with the pullback support to the 1st overlap resistance at 1.06348 in line with two 61.8% fibonacci projections, or 2nd resistance at 1.07835 at the swing high in line with the 100% fibonacci projection and 50% fibonacci retracement. Alternatively, price may drop from the entry to the stop loss at 1.03597 at the horizontal swing lows in line with the 61.8% fibonacci projection.

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