Price is facing bearish pressure from our first resistance, in line with our descending trend line, 61.8% fibonacci extension and 78.6% fibonacci retracement where we could see a reversal below this level.
Trading Recommendation
Entry: 1.17869
Reason for Entry:
descending trend line, 61.8% fibonacci extension and 78.6% fibonacci retracement, horizontal swing high resistance
Take Profit: 1.16959
Reason for Take Profit:
Horizontal swing low support, 61.8% fibonacci retracement
Stop Loss: 1.18221
Reason for Stop Loss:
78.6% fibonacci retracement