Prices are facing bearish pressure from horizontal swing high resistance, in line with 127.2% Fibonacci retracement and 127.2% Fibonacci extension. Prices might push down towards 1st support in line with horizontal swing low support which coincides with 61.8% Fibonacci retracement and 61.8% Fibonacci extension. If prices push up further, prices might face resistance from horizontal pullback resistance in line with 61.8% Fibonacci extension and 61.8% Fibonacci retracement. Stochastics is facing resistance from 90.29 level, potential for further downside.
Trading Recommendation
Entry: 1.93342
Reason for Entry:
Horizontal swing high resistance, 127.2% Fibonacci retracement, 127.2% Fibonacci extension
Take Profit: 1.92320
Reason for Take Profit:
Horizontal pullback support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement
Stop Loss: 1.93731
Reason for Stop Loss:
Horizontal pullback resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension
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