Price is testing 1st support, in line with 38.2% Fibonacci retracement, 61.8% Fibonacci extension and horizontal pullback support. We could see a bounce and further upside towards 1st resistance, in line with 127.2% Fibonacci extension and horizontal swing high resistance. RSI is also testing the lower support where price has bounced before in the past, showing potential for further bullish pressure.
Trading Recommendation
Entry: 0.74411
Reason for Entry:
38.2% Fibonacci retracement, 61.8% Fibonacci extension and horizontal pullback support
Take Profit: 0.74815
Reason for Take Profit:
127.2% Fibonacci extension and horizontal swing high resistance
Stop Loss: 0.74135
Reason for Stop Loss:
78.6% Fibonacci retracement, 127.2% Fibonacci extension and horizontal pullback support
