Price is facing bullish pressure as it continues to hold above the ascending trendline support, and Stochastics has also just reacted at the lower 7.49 support level where it has reacted off before. We could potentially see a bounce and further rise above 1st support, in line with our 61.8% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap support and ascending trendline support, towards 1st resistance, in line with 100% Fibonacci extension and horizontal swing high resistance.
Trading Recommendation
Entry: 1.79760
Reason for Entry:
61.8% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap support and ascending trendline support
Take Profit: 1.82648
Reason for Take Profit:
100% Fibonacci extension and horizontal swing high resistance
Stop Loss: 1.78512
Reason for Stop Loss:
127.2% Fibonacci extension and horizontal swing low support
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