Price is approaching our ascending trendline support and 1st support, in line with our horizontal swing low support, 76.4% Fibonacci retracement and 78.6% Fibonacci extension. We could potentially see a further rise up from this level towards our 1st resistance level, in line with our 78.6% Fibonacci extension and horizontal swing high resistance. Stochastics is also approaching the support level at 13.06% where it has reacted from previously, showing bullish momentum in line with our bullish bias.
Trading Recommendation
Entry: 1.36517
Reason for Entry:
78.6% Fibonacci extension, 76.4% Fibonacci retracement and horizontal swing low support
Take Profit: 1.37588
Reason for Take Profit:
78.6% Fibonacci extension and horizontal swing high resistance
Stop Loss: 1.36099
Reason for Stop Loss:
127.2% Fibonacci extension and horizontal swing low support