Price is facing bearish pressure from our resistance, in line with our horizontal pullback resistance, 23.6% fibonacci retracement and 100% fibonacci extension where we could see a reversal below this level. The Ichimoku cloud and 20 period EMA are showing signs of bearish pressure as well.
Trading Recommendation
Entry: 137.062
Reason for Entry:
horizontal pullback resistance, 23.6% fibonacci retracement and 100% fibonacci extension
Take Profit: 133.992
Reason for Take Profit:
78.6% fibonacci retracement, Horizontal overlap support
Stop Loss: 138.364
Reason for Stop Loss:
Horizontal pullback resistance, 38.2% fibonacci retracement
