Price is facing bullish pressure as it continues to hold above the moving average support, in line with our bullish bias. We could potentially see a bounce at our 1st support, which is in line with our 61.8% Fibonacci retracement and 100% Fibonacci extension, and a further rise up towards our 1st resistance, which is in line with our 127.2% Fibonacci extension.
Trading Recommendation
Entry: 1.39167
Reason for Entry:
61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal pullback support
Take Profit: 1.40013
Reason for Take Profit:
127.2% Fibonacci extension and horizontal swing high resistance
Stop Loss: 1.38512
Reason for Stop Loss:
78.6 Fibonacci retracement and horizontal swing low support