Prices are facing bearish pressure from horizontal swing high resistance in line with 61.8% Fibonacci retracement and 161.8% Fibonacci extension . Prices might push down towards horizontal swing low support which is in line with 78.6% Fibonacci retracement and 161.8% Fibonacci extension . If prices push up further, prices might face resistance from horizontal swing high resistance in line with 78.6% Fibonacci retracement and 127.2% Fibonacci extensions. EMA is also above prices, showing a bearish pressure for prices.
Trading Recommendation
Entry: 1.79219
Reason for Entry:
Horizontal swing high resistance, 61.8% Fibonacci retracement, 161.8% Fibonacci extension
Take Profit: 1.78290
Reason for Take Profit:
Horizontal swing low support, 78.6% Fibonacci retracement, 161.8% Fibonacci extension
Stop Loss: 1.79703
Reason for Stop Loss:
Horizontal swing high resistance, 78.6% Fibonacci retracement, 127.2% Fibonacci extension
