Price is facing bullish pressure as it continues to hold above the ascending trendline and moving average support, which is in line with our bullish bias. We could see a bounce at 1st support, in line with 61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal pullback support, and further upside towards 1st resistance, in line with 61.8% Fibonacci extension and horizontal swing high resistance.
Trading Recommendation
Entry: 0.70274
Reason for Entry:
61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal pullback support
Take Profit: 0.70692
Reason for Take Profit:
61.8% Fibonacci extension and horizontal swing high resistance
Stop Loss: 0.69981
Reason for Stop Loss:
161.8% Fibonacci extension and horizontal overlap support
