On the H4 time frame, prices are approaching the resistance zone at 1898.00, which coincides with the 38.2% Fibonacci retracement and 61.8% Fibonacci extension. A pullback to this zone could present an opportunity to play the drop to the next support target at 1823.80, which is also the graphical support area and Fibonacci confluence zone. A break below the downside confirmation level at 1862.80 could provide the bearish acceleration to the support zone at 1823.80.
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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.