On the H4, prices are on bullish momentum and consolidating in a wedge pattern. We see the potential for further bullish movement from our 1st support at 0.67815 in line with 61.8% Fibonacci extension towards our 1st resistance at 0.68569 in line with 127.2% Fibonacci extension. Prices are trading above our MA and also ichimoku clouds further supporting our bullish bias. Alternatively, our stop loss will be placed at 2nd support at 0.67395 in line with 100% Fibonacci extension.

Trading Recommendation

Entry: 67815

Reason for Entry:

61.8% Fibonacci extension

Take Profit: 0.68569

Reason for Take Profit:

127.2% Fibonacci extension

Stop Loss: 0.67395

Reason for Stop Loss:

100% Fibonacci extension