Price approaching key Fibonacci resistance zone. With stochastic testing resistance where price pulled back in a past, an intraday pullback below 1st resistance at 1.26170 towards ascending trendline support and 1st support at 1.25612 could be likely.
Trading Recommendation
Entry: 1.26170
Reason for Entry:
-27.2% Fibonacci retracement, 78.6% Fibonacci extension
Take Profit: 1.25612
Reason for Take Profit:
50% Fibonacci retracement, ascending trendline support
Stop Loss: 1.26572
Reason for Stop Loss:
-61.8% Fibonacci retracement, 78.6% and 100% Fibonacci extension
