Price is facing bearish pressure from our first resistance, in line with our 50% fibonacci extension, 23.6%, 38.2%, 61.8 fibonacci retracement, and horizontal graphical resistance where we could see a reversal below this level to our first support level. The 55 period EMA is showing signs of bearish pressure in line with our first resistance
Trading Recommendation
Entry: 135.338
Reason for Entry:
50% fibonacci extension, 23.6%, 38.2%, 61.8 fibonacci retracement and horizontal graphical resistance
Take Profit: 132.862
Reason for Take Profit:
Graphical Support level, 23.6%, and 127% Fibonacci retracement
Stop Loss: 136.762
Reason for Stop Loss:
38.2% and 78.6% fibonacci retracement
