Prices are facing bullish pressure from ascending trendline support and horizontal swing low support in line with 61.8% Fibonacci retracement and 61.8% Fibonacci extension. Prices might push up towards 1st resistance in line with horizontal swing high resistance, 100% Fibonacci extension and -61.8% Fibonacci retracement. If prices fall through 1st support, prices might take support from 2nd support which is a horizontal swing low support, in line with 50% Fibonacci retracement and 127.2% Fibonacci extension. EMA is also below prices, showing a bullish pressure for prices.
Trading Recommendation
Entry: 1.26698
Reason for Entry:
Ascending trendline support, horizontal swing low support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension
Take Profit: 1.27255
Reason for Take Profit:
Horizontal swing high resistance, -61.8% Fibonacci retracement, 100% Fibonacci extension
Stop Loss: 1.26485
Reason for Stop Loss:
Horizontal swing low support, 50% Fibonacci retracement, 127.2% Fibonacci extension
