Price is facing bullish pressure as it continues to hold above both the Ichimoku cloud and ascending trendline support, in line with our bullish bias. We could potentially see price bounce at 1st support, in line with 61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal swing low support, and rise towards 1st resistance, in line with 78.6% Fibonacci retracement, 61.8% Fibonacci extension and horizontal swing high resistance.
Trading Recommendation
Entry: 1.27185
Reason for Entry:
61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal swing low support
Take Profit: 1.27712
Reason for Take Profit:
78.6% Fibonacci retracement, 61.8% Fibonacci extension and horizontal swing high resistance
Stop Loss: 1.26794
Reason for Stop Loss:
78.6% Fibonacci retracement and horizontal swing low support
