Price is approaching our first support, in line with our ascending trend line, horizontal pullback support, 50% fibonacci retracement and 61.8% fibonacci extension where we could see a bounce above this level to our first resistance level. Ichimoku cloud and 20 EMA are showing signs of bullish pressure as well, in line with our bullish bias.
Trading Recommendation
Entry: 129.284
Reason for Entry:
ascending trend line, horizontal pullback support, 50% fibonacci retracement and 61.8% fibonacci extension
Take Profit: 129.652
Reason for Take Profit:
127.2% Fibonacci extension and horizontal swing high resistance
Stop Loss: 129.116
Reason for Stop Loss:
78.6% Fibonacci retracement and horizontal swing low support