Price is testing 1st support, in line with 61.8% Fibonacci retracement, 161.8% Fibonacci extension and horizontal pullback support. We could see a bounce and further rise up towards 1st resistance, in line with 61.8% Fibonacci extension and horizontal swing high resistance. RSI is also approaching the lower support level where price has bounced in the past, showing possible signs of bullish pressure as well.
Trading Recommendation
Entry: 110.152
Reason for Entry:
61.8% Fibonacci retracement, 161.8% Fibonacci extension and horizontal pullback support
Take Profit: 110.824
Reason for Take Profit:
61.8% Fibonacci extension and horizontal swing high resistance
Stop Loss: 109.804
Reason for Stop Loss:
Horizontal swing low support