Price is facing bearish pressure from our first resistance, in line with our 100% fibonacci extension, 50%, 78.6% fibonacci retracement, and horizontal graphical resistance where we could see a potential reversal under this level to our support level. The Stochastics is also showing signs of bearish pressure from the resistance level of 84.31.
Trading Recommendation
Entry: 1.17378
Reason for Entry:
100% fibonacci extension resistance, 50%, 78.6% fibonacci retracement and horizontal graphical resistance level.
Take Profit: 1.16449
Reason for Take Profit:
38.6%, 76.4% fibonacci retracement.
Stop Loss: 1.17848
Reason for Stop Loss:
127% fibonacci Extension, 61.8% fibonacci retracement