Price is facing bullish pressure from 1st support at 0.72271, in line with 127.2% fibonacci extension and horizontal swing low support.Price could bounce off 1st support to 1st resistance which coincides with 78.6% fibonacci extension and horizontal swing high resistance. If prices fall through 1st support, prices could reach 2nd support in line with horizontal swing low support, 127.2% fibonacci retracement and 50% fibonacci extension. Stochastics is also showing bullish pressure as it reacted off the 6.87 level.
Trading Recommendation
Entry: 0.72271
Reason for Entry:
Horizontal swing low support, 127.2% fibonacci extension
Take Profit: 0.73051
Reason for Take Profit:
Horizontal swing high resistance, 78.6% fibonacci extension
Stop Loss: 0.71805
Reason for Stop Loss:
Horizontal pullback support, 127.2 fibonacci retracement, 50% fibonacci extension
