Price is facing bullish pressure as it continues to hold above both the ascending trendline support and Ichimoku cloud, in line with our bullish bias. We could potentially see a further rise above the ascending trendline support towards our 1st resistance at 1.54380, in line with our horizontal swing high resistance and 61.8% Fibonacci extension.
Reason for Entry:
38.2% Fibonacci extension, 61.8% Fibonacci retracement and horizontal swing low support
Take Profit: 1.53480
Reason for Take Profit:
61.8% Fibonacci extension and horizontal swing high resistance
Stop Loss: 1.53510
Reason for Stop Loss:
78.6% Fibonacci retracement and horizontal swing low 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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