Price holding above ascending trendline support. A short term bounce above 1st support at 1.20387 towards 1st resistance at 1.20660 can be expected. RSI is also above support and re-integrated from being oversold.
Trading Recommendation
Entry: 1.20387
Reason for Entry:
38.2% Fibonacci retracement, ascending trendline support
Take Profit: 1.20660
Reason for Take Profit:
38.20% Fibonacci retracement
Stop Loss: 1.20232
Reason for Stop Loss:
Recent swing low
