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.

Trading Recommendation

Entry: 1.53787

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