Prices are facing bullish pressure from 1st support which is in line with 78.6% fibonacci retracement and horizontal swing low support. Prices might push higher towards 1st resistance which is in line with 161.8% fibonacci retracement and 50% fibonacci retracement and horizontal swing high resistance. If prices fall through 1st support, prices might take support on 2nd support which is in line with 50% fibonacci extension and 127.2% fibonacci retracement. Stochastics is also showing that it is approaching 4.09 level support, potentially experiencing a bounce, in line with our analysis.
Trading Recommendation
Entry: 0.65254
Reason for Entry:
Horizontal swing low support, 78.6% fibonacci retracement
Take Profit: 0.65816
Reason for Take Profit:
Horizontal swing high resistance, 161.8% fibonacci retracement, 50% fibonacci retracement
Stop Loss: 0.65080
Reason for Stop Loss:
Horizontal swing low support, 50% fibonacci extension, 127.2% fibonacci retracement
