Price is approaching our first resistance, in line with our descending trend line, 78.6% fibonacci retracement and 78.6% fibonacci extension where we could see a reversal below this level to our first support target.
Trading Recommendation
Entry: 1.18203
Reason for Entry:
descending trend line, 78.6% fibonacci retracement and 78.6% fibonacci extension
Take Profit: 1.16959
Reason for Take Profit:
61.8% fibonacci retracement and Horizontal swing low support
Stop Loss: 1.18493
Reason for Stop Loss:
88.6% fibonacci retracement