Type : Bullish rise
Resistance : 1105'2
Pivot: 1081'4
Support : 1065
Preferred Case: With price moving above the ichimoku cloud and and the recent break of the descending trendline which signifies bullish momentum, we have a bullish bias that price will rise to our 1st resistance in line with the 1105'2 in line with the 61.8% Fibonacci retracement and swing high resistance from our pivot of 1081'4 in line with the 61.8% Fibonacci retracement and the horizontal overlap support.
Alternative scenario: Alternatively, price may break pivot structure and head for 1st support at 1065 in line with the 50% Fibonacci retracement and the horizontal pullback support.
Fundamentals: No Major News
Resistance : 1105'2
Pivot: 1081'4
Support : 1065
Preferred Case: With price moving above the ichimoku cloud and and the recent break of the descending trendline which signifies bullish momentum, we have a bullish bias that price will rise to our 1st resistance in line with the 1105'2 in line with the 61.8% Fibonacci retracement and swing high resistance from our pivot of 1081'4 in line with the 61.8% Fibonacci retracement and the horizontal overlap support.
Alternative scenario: Alternatively, price may break pivot structure and head for 1st support at 1065 in line with the 50% Fibonacci retracement and the horizontal pullback support.
Fundamentals: No Major News
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