Type : Bullish Rise Resistance : 0.63185 Pivot: 0.62505 Support : 0.61850
Preferred Case: On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise to the pivot at 0.62505 where the overlap resistance is. Once there is upside confirmation that price has broken the pivot , we would expect bullish momentum to carry prices to 1st resistance at 0.63185 where the swing high resistance, 78.6% fibonacci retracement , 61.8% fibonacci projection and 161.8% fibonacci extension are.
Alternative scenario: Alternatively, price could drop to the 1st support at 0.61850 where the overlap support and 78.6% fibonacci projection are.