Price is holding below the moving average resistance, showing bearish pressure in line with our bearish bias. We could potentially see price reverse at our 1st resistance, which is in line with our 61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal pullback resistance, and face further downside towards 1st support, in line with our 50% Fibonacci retracement, 61.8% Fibonacci extension and horizontal swing low support.
Trading Recommendation
Entry: 1.49509
Reason for Entry:
61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal pullback resistance
Take Profit: 1.48953
Reason for Take Profit:
50% Fibonacci retracement, 61.8% Fibonacci extension and horizontal swing low support
Stop Loss: 1.49917
Reason for Stop Loss:
161.8% Fibonacci extension and horizontal swing high resistance
