As it can be clearly identified from the graphical illustration, the previous H4 candle left a huge wick to the downside, meaning that the price was unable to break below the local zone of support. Checking the higher timeframe charts and drawing a Fibonacci from the high of the impulse to the finish, it can be observed that 0.5 Fibonacci retracement level nicely lines up with 1.098 zone of previous support later turned resistance. Thus, we are looking forward to opening BUY positions and aiming for that particular target
