Price is expected to bounce upwards from the ascending trendline support. Price is expected to move towards the 1st Resistance in line with the previous swing high and 100% Fibonacci extension. Our bullish bias is further supported by the stochastic indicator, the K% line bounced off on the support level showing a strong upward movement.
Trading Recommendation
Entry: 1.87543
Reason for Entry:
88% Fibonacci retracement and previous swing low
Take Profit: 1.91504
Reason for Take Profit:
100% Fibonacci extension and previous swing high
Stop Loss: 1.86454
Reason for Stop Loss:
127.2% Fibonacci retracement
