Price is bouncing up perfectly from our major support at 0.7966 (Fibonacci extension, Fibonacci retracement, horizontal swing low support, bullish divergence) and we expect to see a further push up from this level to at least 0.8051 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,3,1) is seeing strong support above 8% where we expect a further bounce from. We can also see bullish divergence vs price signalling that a reversal is impending.
Buy above 0.7966. Stop loss at 0.7935. Take profit at 0.8051.
