Prices are on bearish momentum and abiding to our bearish trendline. We see potential for a dip from our 1st resistance at 0.67419 which is a graphical overlap and swing low towards our 1st support at 0.66905 in line with graphical swing low towards our 1st support at 0.66905 in line with 100% Fibonacci extension and 161.8% Fibonacci projection. Technical indicators are showing bearish momentum. Alternatively, our stop loss will be placed at 2nd resistance at 0.67724 in line with 61.8% Fibonacci extension and in line with our descending trendline.

Trading Recommendation

Entry: 0.67419

Reason for Entry:

Graphical overlap and swing low

Take Profit: 0.66905

Reason for Take Profit:

100% Fibonacci extension and 161.8% Fibonacci projection

Stop Loss: 0.67724

Reason for Stop Loss:

61.8% Fibonacci extension and in line with our descending trendline