Price is approaching 1st support, which is in line with 61.8% Fibonacci retracement, 61.8% Fibonacci extension and horizontal swing low support. We could see a bounce and further rise towards 1st resistance, in line with 61.8% Fibonacci extension and horizontal swing high resistance. Stochastics is also approaching support where price has bounced from in the past, showing possible bullish pressure.
Trading Recommendation
Entry: 0.86883
Reason for Entry:
61.8% Fibonacci retracement, 61.8% Fibonacci extension and horizontal swing low support
Take Profit: 0.87813
Reason for Take Profit:
61.8% Fibonacci extension and horizontal swing high resistance
Stop Loss: 0.86307
Reason for Stop Loss:
127.2% Fibonacci extension and horizontal swing low support
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