Type: Bearish Momentum
Resistance: 7.475
Pivot: 6.900
Support: 6.310
Preferred Case: The H4 price is in a slightly descending trend with prices trading below the ichimoku . The price may drop form the pivot at 6.900 to the support at 6.310 where the 78.6% retracement and swing low sits
Alternative scenario: If there is a price reversal, it might test the 1st resistance at 7.475, where the 38.2% Fibonacci and 78.6% projection sits
Fundamentals: There are no major news.
Resistance: 7.475
Pivot: 6.900
Support: 6.310
Preferred Case: The H4 price is in a slightly descending trend with prices trading below the ichimoku . The price may drop form the pivot at 6.900 to the support at 6.310 where the 78.6% retracement and swing low sits
Alternative scenario: If there is a price reversal, it might test the 1st resistance at 7.475, where the 38.2% Fibonacci and 78.6% projection sits
Fundamentals: There are no major news.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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