Price is holding below both the descending trendline and moving average resistances, showing signs of bearish pressure in line with our analysis. We could see a reversal at 1st resistance, in line with 61.8% Fibonacci retracement, 78.6% Fibonacci extension and horizontal swing high resistance, and further drop towards 1st support, in line with 100% Fibonacci extension and horizontal swing low support.
Trading Recommendation
Entry: 90.625
Reason for Entry:
61.8% Fibonacci retracement, 78.6% Fibonacci extension and horizontal swing high resistance
Take Profit: 90.326
Reason for Take Profit:
100% Fibonacci extension and horizontal swing low support
Stop Loss: 90.786
Reason for Stop Loss:
161.8% Fibonacci extension and horizontal swing high resistance
