Price is facing bearish pressure from 61.8% Fibonacci extension and 78.6% Fibonacci retracement Fibonacci confluence area. Prices might push down towards horizontal pullback support in line with 127.2% Fibonacci retracement and 61.8% Fibonacci extension. If prices push up, prices might face resistance from horizontal swing high resistance in line with 78.6% Fibonacci extension and 61.8% Fibonacci retracement. EMA is also above prices, showing a bearish pressure for prices.
Trading Recommendation
Entry: 90.727
Reason for Entry:
61.8% Fibonacci extension, 78.6% Fibonacci retracement, descending trendline resistance
Take Profit: 90.365
Reason for Take Profit:
Horizontal pullback support, 127.2% Fibonacci retracement, 61.8% Fibonacci extension
Stop Loss: 90.897
Reason for Stop Loss:
Horizontal swing high resistance, 78.6% Fibonacci extension, 61.8% Fibonacci retracement
