Price is approaching 1st support, which is in line with 61.8% Fibonacci retracement, 61.8% Fibonacci extension and ascending trendline support. We could see a bounce and further upside towards 1st resistance, in line with 78.6% Fibonacci retracement, 61.8% Fibonacci extension and horizontal swing high resistance. Stochastics is also approaching support where price has bounced from in the past, showing signs of bullish pressure.
Trading Recommendation
Entry: 1.83307
Reason for Entry:
61.8% Fibonacci retracement, 61.8% Fibonacci extension and ascending trendline support
Take Profit: 1.84854
Reason for Take Profit:
78.6% Fibonacci retracement, 61.8% Fibonacci extension and horizontal swing high resistance
Stop Loss: 1.82617
Reason for Stop Loss:
78.6% Fibonacci extension and horizontal swing low support
