Price is reacting above 1st support, which is in line with our 50% Fibonacci retracement, 78.6% Fibonacci extension and horizontal overlap support. We could see further upside above this level, towards 1st resistance, in line with 78.6% Fibonacci retracement, 78.6% Fibonacci extension and horizontal pullback resistance. Price is also holding above the moving average support, in line with our bullish bias.
Trading Recommendation
Entry: 1.82953
Reason for Entry:
50% Fibonacci retracement, 78.6% Fibonacci extension and horizontal overlap support
Take Profit: 1.83947
Reason for Take Profit:
78.6% Fibonacci retracement, 78.6% Fibonacci extension and horizontal pullback resistance
Stop Loss: 1.82318
Reason for Stop Loss:
161.8% Fibonacci extension and horizontal swing low support