On the H4 chart, price is abiding to the ascending trendline support and the ascending channel on the daily, signifying an overall bullish momentum. We can expect price to bounce at the 1st Support level in line with 78.6% Fibonacci projection ,61.8% Fibonacci retracement and trendline support towards 1st Resistance in line with 61.8% Fibonacci projection and swing high resistance. Our bullish bias is further supported by the Ichimoku cloud acting as a support.
Trading Recommendation
Entry:115.039
Reason for Entry: 78.6% Fibonacci projection ,61.8% Fibonacci retracement and trendline support
Take Profit: : 116.297
Reason for Take Profit: 61.8% Fibonacci projection and swing high resistance
Stop Loss:114.648
Reason for Stop Loss:
100% Fibonacci projection and 78.6% Fibonacci retracement
