Price has just seen a bullish breakout from descending trendline resistance-turned-support, and MACD is now holding above the 0 line. We could see a bounce at 1st support, in line with 38.2%, 50% Fibonacci retracement, 61.8% Fibonacci extension and horizontal pullback support, and further rise towards 1st resistance, in line with 61.8% Fibonacci extension and horizontal swing high resistance.
Trading Recommendation
Entry: 0.69269
Reason for Entry:
38.2%, 50% Fibonacci retracement, 61.8% Fibonacci extension and horizontal pullback support
Take Profit: 0.69354
Reason for Take Profit:
61.8% Fibonacci extension and horizontal swing high resistance
Stop Loss: 0.69041
Reason for Stop Loss:
78.6% Fibonacci retracement, 127.2% Fibonacci extension and horizontal swing low support
