Price is approaching 1st support, in line with 61.8% Fibonacci retracement, 127.2% Fibonacci extension and horizontal pullback support. We could potentially see a bounce and further rise up to test 1st resistance, in line with 61.8% Fibonacci extension and horizontal swing high resistance. RSI is also approaching the ascending trendline support, showing signs of bullish pressure as well.
Trading Recommendation
Entry: 1.57637
Reason for Entry:
61.8% Fibonacci retracement, 127.2% Fibonacci extension and horizontal pullback support
Take Profit: 1.58317
Reason for Take Profit:
61.8% Fibonacci extension and horizontal swing high resistance
Stop Loss: 1.57240
Reason for Stop Loss:
Horizontal swing low support
