Price is approaching our first resistance level, in line with our horizontal pullback resistance, descending trend line, 78.6% fibonacci extension and 61.8% fibonacci retracement where we could see a reversal below this level. The Ichimoku cloud and 100 period EMA are showing signs of bearish pressure as well.
Trading Recommendation
Entry: 0.95159
Reason for Entry:
horizontal pullback resistance, descending trend line, 78.6% fibonacci extension and 61.8% fibonacci retracement
Take Profit: 0.94258
Reason for Take Profit:
61.8% fibonacci extension, horizontal swing low support
Stop Loss: 0.95607
Reason for Stop Loss:
Horizontal swing high resistance