Prices are facing bullish pressure from horizontal pullback support, which coincides with 50% Fibonacci extension and 38.2% Fibonacci retracement. Prices might push up to 1st resistance which is in line with horizontal swing high resistance, 50% Fibonacci extension and 61.8% Fibonacci retracement. If prices push down further, prices might take support from horizontal swing low support in line with 100% Fibonacci extension and 61.8% Fibonacci retracement. EMA is also below prices, showing bullish pressure for prices.
Trading Recommendation
Entry: 1.10196
Reason for Entry:
Horizontal swing low support, 50% Fibonacci extension, 61.8% Fibonacci retracement
Take Profit: 1.10395
Reason for Take Profit:
Horizontal swing high resistance, 50% Fibonacci extension, 61.8% Fibonacci retracement
Stop Loss: 1.10070
Reason for Stop Loss:
Horizontal swing low support, 61.8% Fibonacci retracement, 100% Fibonacci extension
