Price is approaching our first resistance in line with our horizontal swing high resistance, descending trend line, 78.6% fibonacci retracement and 78.6% fibonacci extension where we could see a reversal below this level. RSI is showing a bearish breakout as well.
Trading Recommendation
Entry: 1.29786
Reason for Entry:
horizontal swing high resistance, descending trend line, 78.6% fibonacci retracement and 78.6% fibonacci extension
Take Profit: 1.29077
Reason for Take Profit:
78.6% fibonacci retracement and 78.6% fibonacci extension
Stop Loss: 1.30091
Reason for Stop Loss:
Horizontal swing high resistance
