Type: Bearish Momentum
Resistance: 3.5875
Pivot: 3.3815
Support: 3.2415
Preferred Case: The H4 price is in a downward trend and crossing below ichimoku cloud. The price is consolidating now, if the price can break the consolidating area, the price may drop form the pivot at 3.3815, where the 61.8% fibonacci retracement is to the 1st support at 3.2415 where the swing low and 78.6% fibonacci projection sits
Alternative scenario: If there is a price reversal, price will move to 3.5875, where the swing highs and 78.6% fibonacci retracement are.
Fundamentals: There are no major news.
Resistance: 3.5875
Pivot: 3.3815
Support: 3.2415
Preferred Case: The H4 price is in a downward trend and crossing below ichimoku cloud. The price is consolidating now, if the price can break the consolidating area, the price may drop form the pivot at 3.3815, where the 61.8% fibonacci retracement is to the 1st support at 3.2415 where the swing low and 78.6% fibonacci projection sits
Alternative scenario: If there is a price reversal, price will move to 3.5875, where the swing highs and 78.6% fibonacci retracement are.
Fundamentals: There are no major news.