Price holding above long term ascending trendline support and rejecting below short term descending trendline resistance. A short term push up above 1st support at 0.71871 towards 1st resistance at 0.72409 and even 2nd resistance at 0.73073 is possible. Price also holding above moving average support.
Trading Recommendation
Entry: 0.71871
Reason for Entry:
50% Fibonacci retracement, ascending trendline support
Take Profit: 0.72409
Reason for Take Profit:
-27.2% Fibonacci retracement, Graphical swing high
Stop Loss: 0.71510
Reason for Stop Loss:
78.6% Fibonacci retracement
