Description :
Price is approaching 1st resistance, in line with 61.8%, 161.8% Fibonacci retracement, 50% Fibonacci extension and horizontal swing high resistance. We could see a reversal and further downside towards 1st support, in line with 61.8%, 161.8% FIbonacci extension and horizontal swing low support. Stochastics is also testing resistance where price has reversed at before, showing signs of bearish pressure.
Trading Recommendation
Entry: 1774.48
Reason for Entry:
61.8%, 161.8% Fibonacci retracement, 50% Fibonacci extension and horizontal swing high resistance
Take Profit: 1753.42
Reason for Take Profit:
61.8%, 161.8% FIbonacci extension and horizontal swing low support
Stop Loss: 1785.78
Reason for Stop Loss:
100% Fibonacci extension and horizontal swing high resistance
