Price holding below long term descending trendline resistance and also coming close to previous swing high. We can expect a short term pull back below our 1st resistance at 128.926 towards the graphical swing low and 1st support at 128.355. Price is holding below moving average as well.
Trading Recommendation
Entry: 128.926
Reason for Entry:
38.2% Fibonacci retracement, Moving average resistance
Take Profit: 128.355
Reason for Take Profit:
Graphical swing low
Stop Loss: 129.111
Reason for Stop Loss:
50% FIbonacci retracement, Descending trendline resistance
