Price is facing bearish pressure from our first resistance, in line with our horizontal pullback resistance, 23.6% fibonacci retracement where we could see a further drop below this level. The Ichimoku cloud is showing signs of bearish pressure as well in line with our bearish bias.
Trading Recommendation
Entry: 0.71646
Reason for Entry:
horizontal pullback resistance, 23.6% fibonacci retracement
Take Profit: 0.70132
Reason for Take Profit:
horizontal swing low support, 38.2% fibonacci retracement
Stop Loss: 0.72434
Reason for Stop Loss:
horizontal overlap resistance, 61.8% fibonacci retracement
