Price is testing our first resistance, in line with our horizontal swing high resistance, 38.2% fibonacci retracement and 100% fibonacci extension where we could see a reversal below this level. 20 Period EMA and the Ichimoku cloud are showing signs of bearish pressure as well.
Trading Recommendation
Entry: 0.72955
Reason for Entry:
horizontal swing high resistance, 38.2% fibonacci retracement and 100% fibonacci extension
Take Profit: 0.72090
Reason for Take Profit:
Horizontal pullback support, 76.4% fibonacci retracement
Stop Loss: 0.73429
Reason for Stop Loss:
Horizontal pullback resistance, 61.8% fibonacci retracement
