On the H4 timeframe, prices are consolidating in an ascending channel and on bullish momentum. We see the potential for further bullish continuation from our 1st support at 0.67823 which is a graphical overlap towards our 1st resistance at 0.68367 in line with 61.8% Fibonacci extension. RSI is at levels where bounces occurred previously, further supporting our bullish bias. Alternatively, our stop loss will be placed at 0.67554 in line with 78.6% Fibonacci extension.
Trading Recommendation
Entry: 0.67823
Reason for Entry:
Graphical overlap
Take Profit: 0.68367
Reason for Take Profit:61.8% Fibonacci extensionStop Loss: 0.67554
Reason for Stop Loss:
78.6% Fibonacci extension
