Price is testing 1st support, in line with 61.8% Fibonacci retracement 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. Price is also holding above the ascending trendline and moving average support, in line with our bullish bias.
Trading Recommendation
Entry: 1.83395
Reason for Entry:
61.8% Fibonacci retracement and horizontal pullback support
Take Profit: 1.83839
Reason for Take Profit:
61.8% Fibonacci extension and horizontal swing high resistance
Stop Loss: 1.83069
Reason for Stop Loss:
61.8% Fibonacci extension and horizontal swing low support
