Price is approaching our 1st support, in line with our 61.8% Fibonacci retracement, 100%, 61.8% Fibonacci extension and horizontal pullback support. We could potentially see a bounce and further upside towards our 1st resistance at 1.94184, in line with our 50% Fibonacci extension and horizontal swing high resistance. Price is also holding above the Ichimoku cloud, showing bullish pressure in line with our analysis.
Trading Recommendation
Entry: 1.93350
Reason for Entry:
61.8% Fibonacci retracement, 100%, 61.8% Fibonacci extension and horizontal pullback support
Take Profit: 1.94184
Reason for Take Profit:
50% Fibonacci extension and horizontal swing high resistance
Stop Loss: 1.92655
Reason for Stop Loss:
127.2% Fibonacci extension and horizontal swing low support