Price continues to hold above the ascending trendline support and Ichimoku cloud, showing bullish pressure in line with our bullish bias. We could potentially see a bounce at our ascending trendline support and 1st support at 1.79300, in line with our 61.8% Fibonacci retracement and 78.6% Fibonacci extension, and a further push up towards our 1st resistance level at 1.80156, in line with our 50% Fibonacci extension and horizontal swing high resistance.
Trading Recommendation
Entry: 1.79300
Reason for Entry:
78.6% Fibonacci extension, 61.8% Fibonacci retracement and horizontal pullback support
Take Profit: 1.80156
Reason for Take Profit:
50% Fibonacci extension and horizontal swing high resistance
Stop Loss: 1.78775
Reason for Stop Loss:
127.2% Fibonacci extension and horizontal swing low support