Price is facing bullish pressure from our first support, in line with our 61.8% fibonacci extension, 38.2% fibonacci retracement, and horizontal graphical support where we could see a bounce above this level to our first resistance level. The Stochastics is showing signs of bullish pressure from the support level of 16.12.
Trading Recommendation
Entry: 1.95643
Reason for Entry:
61.8% fibonacci extension, 38.2% fibonacci retracement, and horizontal graphical support
Take Profit: 1.96762
Reason for Take Profit:
38.2%, 50% Fibonacci extension resistance, and horizontal graphical resistance
Stop Loss: 136.762
Reason for Stop Loss:
61.8% fibonacci retracement, 100% Fibonacci extension.