Type : Bullish Rise
Resistance : 1.0430
Pivot: 1.0198
Support : 1.0007
Preferred Case: On the H4, with prices breaking the descending channel , we have a bullish bias that price will rise from the pivot at 1.0198 where the 23.6% fibonacci retracement is to the 1st resistance at 1.0430 where the 50% fibonacci retracement is.
Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 1.0007 where the swing low support.
Fundamentals: No key news.
Resistance : 1.0430
Pivot: 1.0198
Support : 1.0007
Preferred Case: On the H4, with prices breaking the descending channel , we have a bullish bias that price will rise from the pivot at 1.0198 where the 23.6% fibonacci retracement is to the 1st resistance at 1.0430 where the 50% fibonacci retracement is.
Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 1.0007 where the swing low support.
Fundamentals: No key news.
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