First we can see that price on the 4 hourly timeframe has broken the previous structure and made a new high past the previously made lower high which i posted last week anticipating a bear move which actually hit our target. Now that price has broken to make new highs then the next thing to make is a higher low to be made so that price can continue up with the bullish structure . My favorite bullish entry area is the 0.6400 support level which is in confluence with a 61.8% fib level and also a potential right shoulder of a reversal head and shoulders pattern forming on major support . These 3 confluences can bring up price to see 0.66 key monthly resistance
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.