Price is holding above the ascending trendline support, this signifies a continuation of the bullish momentum. Price might push towards the 1st support and bounce up towards 1st resistance to form a higher low on the trendline. Our bullish support is further supported by the 50 period MA crossing over the 100 period MA forming a golden cross, in addition, the signal line has crossed above the MACD line signifying a bullish momentum as well.
Trading Recommendation
Entry: 1.25981
Reason for Entry:
50% Fibonacci retracement
Take Profit: 1.28075
Reason for Take Profit:
78.6% Fibonacci extension
Stop Loss: 1.24527
Reason for Stop Loss:
127.2% Fibonacci extension