Price is facing bullish pressure as it continues to hold above both the Ichimoku cloud and ascending trendline support, in line with our bullish bias. We could potentially see a bounce at our 1st support at 1.53417, which is in line with our 61.8% Fibonacci retracement, 78.6% Fibonacci extension and horizontal overlap support, and further upside towards our 1st resistance at 1.53920, in line with our 127.2% Fibonacci extension and horizontal swing low support.
Trading Recommendation
Entry: 1.53417
Reason for Entry:
61.8% Fibonacci retracement, 78.6% Fibonacci extension and horizontal overlap support
Take Profit: 1.53920
Reason for Take Profit:
78.6% Fibonacci extension and horizontal swing high resistance
Stop Loss: 1.53082
Reason for Stop Loss:
127.2% Fibonacci extension and horizontal swing low support
