Price is approaching 1st support, in line with 61.8% Fibonacci retracement, 78.6% Fibonacci extension, horizontal swing low support and ascending trendline support. We could see a bounce and further rise towards 1st resistance, in line with 61.8%, 127.2% Fibonacci extension and horizontal swing high resistance. RSI is also holding above the ascending trendline support, as well as price, showing signs of further bullish pressure.
Trading Recommendation
Entry: 1.69305
Reason for Entry:
61.8% Fibonacci retracement, 78.6% Fibonacci extension, horizontal swing low support and ascending trendline support
Take Profit: 1.70070
Reason for Take Profit:
61.8%, 127.2% Fibonacci extension and horizontal swing high resistance
Stop Loss: 1.68902
Reason for Stop Loss:
127.2% Fibonacci extension and horizontal swing low support