Prices are facing bullish pressure from ascending trendline support, horizontal swing low support which coincides with 50% Fibonacci extension and 61.8% Fibonacci retracement. Prices might push up further towards 1st resistance, which is a horizontal swing high resistance in line with 78.6% Fibonacci retracement and 161.8% FIbonacci extension. If prices push down further, it might take support from 2nd support which is a horizontal swing low support in line with 100% Fibonacci extension and 61.8% Fibonacci retracement. EMA is also above prices, showing a bearish pressure for prices.
Reason for Entry:
Horizontal swing low support, 50% Fibonacci extension, 61.8% Fibonacci retracement
Take Profit: 0.96208
Reason for Take Profit:
Horizontal swing high resistance, 78.6% Fibonacci retracement, 161.8% Fibonacci extension
Stop Loss: 0.95574
Reason for Stop Loss:
Horizontal swing low support, 100% Fibonacci extension, 61.8% Fibonacci retracement
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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