FX.co ★ UNIUSD Potential For Bullish Rise to previous swing high

escription :

Looking at the H4 chart, my overall bias for UNIUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market.

Looking for an immediate buy entry at 6.571, with price within an ascending channel and recently reflecting off the bottom of it. Stop loss will be at 5.981, where the recent low is. Take profit will be at 7.791, where the previous swing high was.

Trading Recommendation

Entry: 6.571

Reason for Entry: Price within an ascending channel and recently reflecting off the bottom of it

Take Profit:7.791

Reason for Take Profit: Previous swing high

Stop Loss: 5.981

Reason for Stop Loss:

Recent low