Prices are facing bearish pressure from descending trendline resistance, horizontal swing high resistance, 127.2% Fibonacci retracement and 50% Fibonacci extension. Prices might push down towards horizontal swing low support in line with 50% Fibonacci extension. If prices push up further, prices might face resistance from horizontal swing high resistance in line with 161.8% Fibonacci extension and 78.6% Fibonacci retracement. EMA is also above prices, showing a bearish pressure for prices.
Trading Recommendation
Entry: 1.27005
Reason for Entry:
Horizontal swing high resistance, 127.2% Fibonacci retracement, 50% Fibonacci extension
Take Profit: 1.26543
Reason for Take Profit:
Horizontal swing low support, 50% Fibonacci extension
Stop Loss: 1.27298
Reason for Stop Loss:
Horizontal swing high resistance, 161.8% Fibonacci extension, 78.6% Fibonacci retracement
