Prices are approaching 1st resistance in line with horizontal swing high resistance in line with 161.8% Fibonacci extension and 78.6% Fibonacci retracement. Prices might push down towards horizontal pullback support in line with 61.8% Fibonacci retracement . If prices continue to push up, prices might face resistance from horizontal swing high resistance in line with 161.8% Fibonacci extension and 127.2% Fibonacci retracement . Stochastics is also approaching 81.61 resistance level , potential for reversal.
Reason for Entry:
Horizontal swing high resistance, 78.6% Fibonacci retracement, 161.8% Fibonacci extension
Take Profit: 0.90913
Reason for Take Profit:
Horizontal pullback support, 61.8% Fibonacci retracement
Stop Loss: 0.92388
Reason for Stop Loss:
Horizontal swing high resistance, 127.2% Fibonacci retracement, 161.8% FIbonacci extension
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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