Price is approaching 1st support, in line with 61.8% Fibonacci retracement, 78.6% Fibonacci extension and horizontal swing low support. We could see a bounce and further rise up toward 1st resistance, in line with 78.6% Fibonacci retracement, 100% Fibonacci extension and horizontal swing high resistance. Stochastics is also approaching support where price has bounced before in the past as well, indicating potential for further bullish pressure.
Trading Recommendation
Entry: 1.37999
Reason for Entry:
61.8% Fibonacci retracement, 78.6% Fibonacci extension and horizontal swing low support
Take Profit: 1.38921
Reason for Take Profit:
78.6% Fibonacci retracement, 100% Fibonacci extension and horizontal swing high resistance
Stop Loss: 1.37419
Reason for Stop Loss:
127.2% Fibonacci extension and horizontal swing low support