- Edited on December 7, 2021
- VIP Portal
Preference:
With price approaching the ichimoku cloud resistance and a graphical horizontal resistance, we have a bearish bias that price will drop from our pivot at 1.12973 in line with the 23.6% Fibonacci retracement to 1st support at 1.12335 in line with the 78.6% Fibonacci retracement and horizontal overlap support.
Alternative Scenario:
Alternatively, price may break pivot structure and head for 1st resistance at 1.13385 in line with the 61.8% Fibonacci retracement in line with the horizontal swing high resistance.