With indicators showing potential for upside and approaching support levels, we see the potential a bullish bounce from our 1st support at 0.67267 in line with 78.6% Fibonacci retracement and extension towards our 1st resistance at 0.676000 in line with 38.2% Fibonacci retracement. Our stop loss will be placed at 2nd support in line with 0.67018 in line with 100% Fibonacci retracement and 100% Fibonacci extension. Alternatively, breaking our 1st resistance may find prices climbing further towards our 2nd resistance at 0.67979 in line with 61.8% Fibonacci retracement and 100% Fibonacci extension.
Trading Recommendation
Entry: 0.67267
Reason for Entry:
78.6% Fibonacci retracement and 78.6% Fibonacci extension
Take Profit: 0.676000
Reason for Take Profit:
38.2% Fibonacci retracement
Stop Loss: 0.67018
Reason for Stop Loss:
100% Fibonacci retracement and 100% Fibonacci extension
