Price is approaching 1st support, in line with 38.2%, 78.6% Fibonacci retracement, 61.8% Fibonacci extension and horizontal swing low support, where we could see a bounce and further rise towards 1st resistance, in line with 78.6% Fibonacci extension and horizontal swing high resistance. Price is holding above both the ascending trendline and Ichimoku cloud supports, showing signs of bullish pressure.
Trading Recommendation
Entry: 0.70561
Reason for Entry:
38.2%, 78.6% Fibonacci retracement, 61.8% Fibonacci extension and horizontal swing low support
Take Profit: 0.70954
Reason for Take Profit:
78.6% Fibonacci extension and horizontal swing high resistance
Stop Loss: 0.70295
Reason for Stop Loss:
61.8% Fibonacci retracement, 127.2% Fibonacci extension and horizontal pullback support
