Prices are pushing down to make a lower low. If prices break through entry in line with 61.8% Fibonacci retracement and 50% Fibonacci extension Fibonacci confluence area, prices might push down further towards horizontal swing low support in line with 100% Fibonacci extension . If prices bounce from fibonacci confluence , prices might push up towards horizontal pullback resistance in line with 61.8% Fibonacci extension . Ichimoku cloud is also above prices, showing a bearish pressure for prices.
Trading Recommendation
Entry: 1.46967
Reason for Entry:
50% Fibonacci extension, 61.8% Fibonacci retracement
Take Profit: 1.46664
Reason for Take Profit:
Horizontal swing low support, 100% Fibonacci extension
Stop Loss: 1.47103
Reason for Stop Loss:
Horizontal pullback resistance 61.8% Fibonacci extension
