Price is facing bullish pressure from our first support, in line with our 23.6% fibonacci retracement and horizontal overlap support where we could see a further bounce up to test our first resistance target. Ichimoku cloud is showing signs of bullish pressure as well, in line with our bullish bias.
Reason for Entry:
23.6% fibonacci retracement and horizontal overlap support
Take Profit: 1.22750
Reason for Take Profit:
horizontal swing high resistance
Stop Loss: 1.21787
Reason for Stop Loss:
100% Fibonacci extension, 50% Fibonacci retracement and horizontal pullback support
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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