On the H4 timeframe, we can expect price to bounce from the 1st Support in line with 78.6% Fibonacci projection, 61.8% Fibonacci retracement and horizontal support towards 1st Resistance in line with 78.6% Fibonacci retracement, 100% Fibonacci projection and horizontal resistance. Our short-term bullish momentum is further supported by the MACD indicator where both the signal line and MACD line are below the zero line.
Trading Recommendation
Entry:0.91912
Reason for Entry:78.6% Fibonacci projection, 61.8% Fibonacci retracement and horizontal support
Take Profit: 0.92689
Reason for Take Profit:
78.6% Fibonacci retracement, 100% FIbonacci projection and horizontal resistance
Stop Loss: 0.91686
Reason for Stop Loss:
78.6% Fibonacci projection