Price is approaching our first support at 86.577, which is in line with our 78.6% Fibonacci extension. It could potentially bounce from first support and rise further to first resistance at 88.718, in line with our 61.8% Fibonacci extension and 127.2% Fibonacci retracement.
Trading Recommendation
Entry: 86.577
Reason for Entry:
78.6% Fibonacci extension
Take Profit: 88.718
Reason for Take Profit:
61.8% Fibonacci extension and 127.2% Fibonacci retracement.
Stop Loss: 85.564
Reason for Stop Loss:
Horizontal Swing Low
