Price is approaching 1st support, in line with 38.2% Fibonacci retracement, 78.6% Fibonacci extension and horizontal overlap support. We could see a bounce and further upside from here towards 1st resistance, in line with 78.6% Fibonacci extension and horizontal swing high resistance. Price is also holding above moving average support now, in line with our bullish bias.
Trading Recommendation
Entry: 0.92269
Reason for Entry:
38.2% Fibonacci retracement, 78.6% Fibonacci extension and horizontal overlap support
Take Profit: 0.92747
Reason for Take Profit:
78.6% Fibonacci extension and horizontal swing high resistance
Stop Loss: 0.92003
Reason for Stop Loss:
161.8% Fibonacci extension and horizontal swing low support
