On the H4, with MACD indicators are above the zero, we have a bullish bias that the price may rise from the 1st resistance at 1.29323, which is in line with the 38.2% fibonacci retracement to the 2nd resistance at 1.29843, which is in line with the 50% fibonacci retracement and swing high. Alternatively, the price may drop to the 1st support at 1.28476, which is in line with the 38.2% fibonacci retracement and overlap support.
Trading Recommendation
Entry:1.29323
Reason for Entry:
38.2% fibonacci retracement
Take Profit: 1.29843
Reason for Take Profit:
50% fibonacci retracement and swing high
Stop Loss: 1.28476
Reason for Stop Loss:
38.2% fibonacci retracement and overlap support.
