Prices are facing bearish pressure from horizontal swing high resistance which is in line with 38.2% Fibonacci retracement and 61.8% Fibonacci extension. Prices might push down further towards 1st support which is horizontal swing low support, in line with 100% Fibonacci extension. If prices push up further, prices might face resistance from 2nd resistance which is a swing high resistance which is in line with 50% Fibonacci extension and 161.8% Fibonacci retracement. EMA is also above prices, showing a bearish pressure for prices.
Trading Recommendation
Entry: 1.27692
Reason for Entry:
Horizontal swing high resistance, 38.2% Fibonacci retracement, 61.8% Fibonacci extension
Take Profit: 1.26828
Reason for Take Profit:
Horizontal swing low support, 100% Fibonacci extension
Stop Loss: 1.28119
Reason for Stop Loss:
Horizontal swing high resistance, 50% Fibonacci extension, 161.8% Fibonacci retracement
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