Price is facing bearish pressure from our first resistance in line with our horizontal overlap resistance, 38.2% fibonacci retracement and 61.8% fibonacci extension where we could see a reversal below this level. 20 EMA is showing signs of bearish pressure as well, in line with our bearish bias.
Trading Recommendation
Entry: 1.36246
Reason for Entry:
horizontal overlap resistance, 38.2% fibonacci retracement and 61.8% fibonacci extension
Take Profit: 1.35508
Reason for Take Profit:
61.8% fibonacci retracement
Stop Loss: 1.36644
Reason for Stop Loss:
61.8% fibonacci retracement and 100% fibonacci extension
