Prices are facing bullish pressure as prices are taking support from horizontal pullback support in line with 50% Fibonacci retracement and 78.6% Fibonacci extension. Prices might push up towards horizontal overlap resistance in line with 61.8% Fibonacci retracement. If prices push down further, prices might take support from horizontal swing low support in line with 61.8% Fibonacci retracement and 100% Fibonacci extension. EMA is below prices, showing a bullish pressure for prices.
Trading Recommendation
Entry: 1.40626
Reason for Entry:
Horizontal pullback support, 50% Fibonacci retracement, 78.6% Fibonacci extension
Take Profit: 1.41076
Reason for Take Profit:
Horizontal overlap resistance, 61.8% Fibonacci retracement
Stop Loss: 1.40355
Reason for Stop Loss:
Horizontal swing low support, 61.8% Fibonacci retracement, 100% Fibonacci extension
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