Price is facing bullish pressure as it continues to hold above the ascending trendline and moving average support, in line with our bullish bias. We could see price bounce at 1st support, in line with our 61.8% Fibonacci retracement, 50% Fibonacci extension and horizontal pullback support, and further upside towards 1st resistance, in line with 61.8% Fibonacci extension and horizontal swing high resistance.
Trading Recommendation
Entry: 1.41404
Reason for Entry:
61.8% Fibonacci retracement, 50% Fibonacci extension and horizontal pullback support
Take Profit: 1.42200
Reason for Take Profit:
61.8% Fibonacci extension and horizontal swing high resistance
Stop Loss: 1.40992
Reason for Stop Loss:
61.8% Fibonacci retracement, 78.6% Fibonacci extension and horizontal swing low support
