Price is facing bullish pressure as it continues to hold above both the ascending trendline and moving average support, in line with our bullish bias. We could potentially see price bounce at 1st support, in line with our 38.2% Fibonacci retracement, 61.8% Fibonacci extension and horizontal pullback support, and a further rise to 1st resistance, in line with 127.2% Fibonacci extension and horizontal swing high resistance.
Trading Recommendation
Entry: 0.72203
Reason for Entry:
38.2% Fibonacci retracement, 61.8% Fibonacci extension and horizontal pullback support
Take Profit: 0.72867
Reason for Take Profit:
127.2% Fibonacci extension and horizontal swing high resistance
Stop Loss: 0.71916
Reason for Stop Loss:
161.8% Fibonacci extension and horizontal swing low support
