Price is reacting below first resistance at 110.802 which is in line with 78.6% Fibonacci extension. It could potentially bearish from first resistance to first support at 109.113 in line with 78.6% Fibonacci retracement and 100% Fibonacci extension. Otherwise price may continue to bullish to 2nd resistance at 127.2% Fibonacci retracement and 100% Fibonacci extension.
Trading Recommendation
Entry: 110.802
Reason for Entry:
78.6% Fibonacci extension
Take Profit: 109.113
Reason for Take Profit:
78.6% Fibonacci retracement and 100% Fibonacci extension
Stop Loss: 111.408
Reason for Stop Loss:
127.2%% Fibonacci retracement and 100% Fibonacci extension
