Price is approaching 1st support, in line with 61.8% Fibonacci retracement, 100% Fibonacci extension, horizontal pullback support and ascending trendline support. We could see a bounce here and further upside towards 1st resistance, in line with 61.8% Fibonacci extension and horizontal swing high resistance. Stochastics is also testing the support where price has bounced in the past, showing signs of bullish pressure in line with our analysis.
Trading Recommendation
Entry: 1.83906
Reason for Entry:
61.8% Fibonacci retracement, 100% Fibonacci extension, horizontal pullback support and ascending trendline support
Take Profit: 1.85027
Reason for Take Profit:
61.8% Fibonacci extension and horizontal swing high resistance
Stop Loss: 1.83270
Reason for Stop Loss:
78.6% Fibonacci retracement, 161.8% Fibonacci extension and horizontal swing low support
