Prices are approaching ascending trendline support in line with horizontal pullback support in line with 78.6% Fibonacci extension and 61.8% Fibonacci retracement. Prices might push up towards horizontal swing high resistance in line with 61.8% Fibonacci retracement and 100% Fibonacci extension. If prices push down further, prices might take support on horizontal swing low support in line with 127.2% Fibonacci extension and 61.8% Fibonacci retracement. Ichimoku cloud is also below prices, showing a bullish pressure for prices.
Trading Recommendation
Entry: 1.39004
Reason for Entry:
Horizontal pullback support, 78.6% Fibonacci extension, 61.8% Fibonacci retracement
Take Profit: 1.40088
Reason for Take Profit:
Horizontal swing high resistance, 100% Fibonacci extension, 61.8% Fibonacci retracement
Stop Loss: 1.38602
Reason for Stop Loss:
Horizontal swing low support, 61.8% Fibonacci retracement, 127.2% Fibonacci extension
