Prices are facing bearish pressure and are facing resistance from horizontal pullback resistance in line with 50% Fibonacci retracement and 78.6% Fibonacci extension . Prices might push down towards 161.8% Fibonacci extension Fibonacci confluence . If prices continue to push up, prices might face resistance from horizontal pullback resistance in line with 38.2% Fibonacci retracement and 78.6% Fibonacci extension . EMA is also above prices, showing a bearish pressure for prices.
Trading Recommendation
Entry: 0.69419
Reason for Entry:
Horizontal pullback resistance, 50% Fibonacci retracement, 78.6% Fibonacci extension
Take Profit: 0.68760
Reason for Take Profit:
161.8% Fibonacci extension confluence
Stop Loss: 0.68760
Reason for Stop Loss:
Horizontal pullback resistance, 38.2% Fibonacci retracement, 78.6% Fibonacci extension
