Price is facing bearish pressure from our first resistance in line with our horizontal overlap resistance, 50% fibonacci retracement and 100% fibonacci extension where we could see a reversal below this level. Stochastics is showing signs of bearish pressure as well, in line with our bearish bias.
Trading Recommendation
Entry: 1.3616
Reason for Entry:
horizontal overlap resistance, 50% fibonacci retracement and 100% fibonacci extension
Take Profit: 1.3525
Reason for Take Profit:
76.4% fibonacci retracement
Stop Loss: 1.3668
Reason for Stop Loss:
78.6% fibonacci retracement