Prices are facing bullish pressure from ascending trendline support, horizontal swing low support, 50% Fibonacci extension and 61.8% Fibonacci retracement. Prices might push up towards 78.6% Fibonacci extension and -27.2% Fibonacci retracement fibonacci confluence zone. Prices might push down further and take support from horizontal swing low support, in line with 100% Fibonacci extension and 127.2% Fibonacci retracement. Ichimoku cloud is also below prices, showing a bullish pressure for prices.
Reason for Entry:
Ascending trendline support, 50% Fibonacci extension, 61.8% Fibonacci retracement
Take Profit: 0.74881
Reason for Take Profit:
-27.2% Fibonacci retracement, 78.6% Fibonacci extension
Stop Loss: 0.74522
Reason for Stop Loss:
Horizontal swing low support, 100% Fibonacci extension, 127.2% 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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