Prices are on bearish momentum and abiding to our bearish trendline. We see potential for a dip from our 1st resistance at 0.67419 which is a graphical overlap and swing low towards our 1st support at 0.66905 in line with graphical swing low towards our 1st support at 0.66905 in line with 100% Fibonacci extension and 161.8% Fibonacci projection. Technical indicators are showing bearish momentum. Alternatively, our stop loss will be placed at 2nd resistance at 0.67724 in line with 61.8% Fibonacci extension and in line with our descending trendline.
Trading Recommendation
Entry: 0.67419
Reason for Entry:
Graphical overlap and swing low
Take Profit: 0.66905
Reason for Take Profit:
100% Fibonacci extension and 161.8% Fibonacci projection
Stop Loss: 0.67724
Reason for Stop Loss:
61.8% Fibonacci extension and in line with our descending trendline
