Price is holding below both the descending trendline and moving average resistances, showing signs of bearish pressure in line with our analysis. We could see a reversal at 1st resistance, in line with 61.8% Fibonacci retracement, 78.6% Fibonacci extension and horizontal swing high resistance, and further drop towards 1st support, in line with 100% Fibonacci extension and horizontal swing low support.

Trading Recommendation

Entry: 90.625

Reason for Entry:

61.8% Fibonacci retracement, 78.6% Fibonacci extension and horizontal swing high resistance

Take Profit: 90.326

Reason for Take Profit:

100% Fibonacci extension and horizontal swing low support

Stop Loss: 90.786

Reason for Stop Loss:

161.8% Fibonacci extension and horizontal swing high resistance