Price has reacted off our first resistance which is in line with 61.8%, 100%, 127.2% Fibonacci extension and horizontal graphical area,
where we could potentially see price dropping towards our first support. RSI is also showing bearish pressure at the 59.69 level.
Trading Recommendation
Entry: 1.17686
Reason for Entry:
61.8%, 100%, 127.2% Fibonacci extension and horizontal graphical area
Take Profit: 1.16530
Reason for Take Profit:
78.6% fibonacci retracement and 38.2% Fibonacci extension.
Stop Loss: 1.18120
Reason for Stop Loss:
78.6%, 127% fibonacci Extension, and horizontal graphical resistance
