Price is testing our downside confirmation level where a break below this level, in line with our 50% fibonacci retracement, 78.6% fibonacci extension and horizontal overlap support could provide the bearish acceleration to our first support target.
Trading Recommendation
Entry: 106.037
Reason for Entry:
50% fibonacci retracement, 78.6% fibonacci extension and horizontal overlap support
Take Profit: 105.594
Reason for Take Profit:
Horizontal swing low support, 100% fibonacci extension
Stop Loss: 106.248
Reason for Stop Loss:
Horizontal swing high resistance, 78.6% fibonacci extension, 78.6% fibonacci retracement