Prices are facing bullish pressure as prices are taking support from horizontal pullback support in line with 61.8% Fibonacci retracement and 161.8% Fibonacci extension. Prices might push up towards 1st resistance in line with -27.2% Fibonacci retracement and 100% Fibonacci extension fibonacci confluence zone. If prices fall through 1st support, prices might take support on 2nd support in line with50% Fibonacci retracement and 78.6% Fibonacci extension. EMA is also below prices, showing a bullish pressure for prices.
Trading Recommendation
Entry: 1855.440
Reason for Entry:
Horizontal pullback support, 61.8% Fibonacci retracement, 161.8% Fibonacci extension
Take Profit: 1880.688
Reason for Take Profit:
-27.2% Fibonacci retracement, 100% Fibonacci extension
Stop Loss: 1844.105
Reason for Stop Loss:
Horizontal swing low support, 50% Fibonacci retracement, 78.6% Fibonacci extension
