Prices are facing bearish pressure from horizontal pullback support in line with 61.8% Fibonacci retracement. Prices might push donw towards horizontal swing low support in line with 100% Fibonacci extension and 127.2% Fibonacci retracement. If prices push up further, prices might face resistance from horizontal swing high resistance in line with 78.6% Fibonacci retracement and 61.8% Fibonacci extension. EMA is also above prices, showing a bearish pressure for prices.
Trading Recommendation
Entry: 1.47538
Reason for Entry:
Horizontal pullback support, 61.8% Fibonacci retracement
Take Profit: 1.46692
Reason for Take Profit:
Horizontal swing low support, 100% Fibonacci extension, 127.2% Fibonacci retracement
Stop Loss: 1.47958
Reason for Stop Loss:
Horizontal swing high resistance, 61.8% Fibonacci extension, 78.6% Fibonacci retracement
