Price is holding above the ascending trendline support and RSI is also approaching the ascending trendline support where we could see a bounce, showing signs of bullish pressure. We could see a bounce at 1st support, in line with 50% Fibonacci retracement, 78.6% Fibonacci extension and horizontal pullback support, and a further rise towards 1st resistance, in line with 78.6% Fibonacci extension and horizontal swing high resistance.
Trading Recommendation
Entry: 1.20975
Reason for Entry:
50% Fibonacci retracement, 78.6% Fibonacci extension and horizontal pullback support
Take Profit: 1.21332
Reason for Take Profit:
78.6% Fibonacci extension and horizontal swing high resistance
Stop Loss: 1.20713
Reason for Stop Loss:
61.8% Fibonacci extension and horizontal swing low support
