On the H4 timeframe, price broke out of the ascending trendline support, signifying potential bearish momentum. We can expect price to drop from 1st Resistance in line with 23.6% Fibonacci retracement and 61.8% Fibonacci projection towards 1st Support in line with 127.2% Fibonacci extension and 100% Fibonacci projection. Our bearish bias is further supported by price holding below the Ichimoku cloud and RSI is abiding to the descending trendline resistance.
Trading Recommendation
Entry: 0.91562
Reason for Entry:
23.6% Fibonacci retracement and 61.8% Fibonacci projection
Take Profit: :0.71203
Reason for Take Profit:
127.2% Fibonacci extension and 100% Fibonacci projection
Stop Loss: 0.91790
Reason for Stop Loss:
38.2% Fibonacci retracement and 100% Fibonacci projection
ForexMart is authorized and regulated in various jurisdictions.
(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines
Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.
コンタクトする 
