Price, which has been respecting the trend line multiple times, suggests that the pair will continue to be bullish with higher highs and higher lows. We can expect a continuation of bullish momentum with price to bounce back at the 1st support at 0.92910 in line with 50% Fibonacci retracement towards the 1st resistance at 0.93684 in line with 127.2% Fibonacci level. Our bullish bias is further supported by the ichimoku indicator where price is moving above the bullish cloud.
Trading Recommendation
Entry:0.92910
Reason for Entry:
50% Fibonacci Retracement and graphical support
Take Profit: 0.93684
Reason for Take Profit:
127.2% Fibonacci Retracement and graphical resistance
Stop Loss:0.92521
Reason for Stop Loss:
78.6% Fibonacci Retracement and graphical resistance
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