Price is facing bearish pressure from our first resistance level, in line with our horizontal overlap resistance, descending trend line, 78.6% fibonacci extension and 23.6% fibonacci retracement where we could see a reversal below this level. The Ichimoku cloud is showing signs of bearish pressure as well.
Trading Recommendation
Entry: 0.94537
Reason for Entry:
horizontal overlap resistance, descending trend line, 78.6% fibonacci extension and 23.6% fibonacci retracement
Take Profit: 0.93893
Reason for Take Profit:
100% fibonacci extension
Stop Loss: 0.94934
Reason for Stop Loss:
Horizontal swing high resistance, 50% fibonacci retracement