Prices are facing bearish pressure from descending trendline resistance in line with horizontal overlap resistance, in line with 61.8% Fibonacci retracement and 50% Fibonacci extension . Prices might push down towards horizontal swing low support in line with 61.8% Fibonacci retracement and 61.8% Fibonacci extension . If prices continue to push up, prices might face resistance from horizontal swing high resistance in line with 78.6% Fibonacci extension and 127.2% Fibonacci retracement . EMA is also above prices, showing a bearish pressure for prices.
Trading Recommendation
Entry: 1.39495
Reason for Entry:
Horizontal overlap resistance, 61.8% Fibonacci retracement, 50% Fibonacci extension
Take Profit: 1.38602
Reason for Take Profit:
Horizontal swing low support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension
Stop Loss: 1.40012
Reason for Stop Loss:
Horizontal swing high resistance, 127.2% Fibonacci retracement, 78.6% Fibonacci extension
