Price is facing bullish pressure as it continues to hold above the ascending trendline and moving average support, which is in line with our bullish bias. We could potentially see a bounce at 1st support, in line with 78.6% Fibonacci retracement, 100% Fibonacci extension and horizontal swing low support, and a further rise towards 1st resistance, in line with 61.8% Fibonacci retracement and horizontal swing high resistance.
Trading Recommendation
Entry: 1.38542
Reason for Entry:
78.6% Fibonacci retracement, 100% Fibonacci extension and horizontal swing low support
Take Profit: 1.39293
Reason for Take Profit:
61.8% Fibonacci retracement and horizontal swing high resistance
Stop Loss: 1.38088
Reason for Stop Loss:
61.8% Fibonacci retracement, 161.8% Fibonacci extension and horizontal pullback support
