Price is above 1st support at 0.713 in line with 23.6% Fibonacci retracement and 61.8% Fibonacci extension. It could potentially bullish from 1st support at 0.713 in line with 23.6% Fibonacci retracement and 61.8% Fibonacci extension to 1st resistance at 0.72454 in line with 127.2% Fibonacci retracement and 61.8% Fibonacci extension. Our bullish bias is further supported by how Price is holding above the MA, the Ichimoku cloud and Stochastic is abiding to an ascending trendline support. Otherwise price may continue to bearish to 2nd support at 0.70932 in line with 38.2% Fibonacci retracement and 100% Fibonacci extension.
Trading Recommendation
Entry: 0.713
Reason for Entry:
23.6% Fibonacci retracement and 61.8% Fibonacci extension
Take Profit: 0.72454
Reason for Take Profit:
127.2% Fibonacci retracement and 61.8% Fibonacci extension
Stop Loss: 0.70932
Reason for Stop Loss:
38.2% Fibonacci retracement and 100% Fibonacci extension.
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