Price is approaching 1st support, in line with 61.8% Fibonacci extension, 38.2% Fibonacci retracement and horizontal pullback support. We could see a bounce and further rise up toward 1st resistance, in line with 161.8% Fibonacci retracement & horizontal swing high resistance. Price is holding above EMA which shows potential bullish pressure.
Trading Recommendation
Entry: 1.25481
Reason for Entry:
61.8% Fibonacci extension, 38.2% Fibonacci retracement and horizontal pullback support
Take Profit: 1.26137
Reason for Take Profit:
161.8% Fibonacci retracement & horizontal swing high resistance.
Stop Loss: 1.25018
Reason for Stop Loss:
100% Fibonacci extension, 61.8% Fibonacci retracement and horizontal swing low support
