Price is facing bullish pressure as it continues to hold above both the Ichimoku cloud and ascending trendline support, in line with our bullish bias. We could potentially see a bounce at 1st support, in line with 61.8% Fibonacci retracement, 61.8% Fibonacci extension and horizontal pullback support, and further rise towards 1st resistance, in line with 61.8% FIbonacci extension and horizontal swing high resistance.
Trading Recommendation
Entry: 108.985
Reason for Entry:
61.8% Fibonacci retracement, 61.8% Fibonacci extension and horizontal pullback support
Take Profit: 109.787
Reason for Take Profit:
61.8% Fibonacci extension and horizontal swing high resistance
Stop Loss: 108.338
Reason for Stop Loss:
100% Fibonacci extension and horizontal swing low support
