On the H4 timeframe, price is near to the key support level. we see the potential of bullish bounce from 1st support level of 0.65612 in line up with 78.6% fibonacci projection towards the 1st resistance level of 0.66660 in line with 23.6% fibonacci retracement and 78.6% fibonacci projection. Alternatively, price might break through the key support level and trigger a dip towards the 2nd support level of 0.65296 which lines up with 161.8% fibonacci extension and -61.8% fibonacci expansion.
Trading Recommendation
Entry: 0.65612
Reason for Entry:
78.6% fibonacci projection.Take Profit: 0.66660
Reason for Take Profit:23.6% fibonacci retracement and 78.6% fibonacci projection.
Stop Loss: 0.65296Reason for Stop Loss:
161.8% fibonacci extension and -61.8% fibonacci expansion.
