Type : Bullish Rise Resistance : 0.63190 Pivot: 0.62480 Support : 0.61865
Preferred Case: On the H4, with price moving above the ichimoku cloud and has broken through the descending trendline, we have a bullish bias that price will rise to the pivot at 0.62480 in line with the swing high resistance and 61.8% fibonacci retracement . Once we have upside confirmation that price has broken past pivot , we would expect bullish momentum to carry price to the 1st resistance at 0.63190 where the swing high resistance and 161.8% fibonacci extension are.
Alternative scenario: Alternatively, price may drop to the 1st support level at 0.61865 in line with the pullback support and 61.8% fibonacci projection .