Prices are facing bearish pressure from descending trendline resistance as well as 1st resistance in line with 50% Fibonacci extension and 78.6% Fibonacci retracement. Prices might push downwards towards 1st support, in line with 78.6% FIbonacci extension and 127.2% Fibonacci retracement. If prices push further up from 1st resistance, prices might face resistance from 2nd resistance which is in line with 161.8% Fibonacci retracement and 78.6% Fibonacci extension. EMA is also above prices, showing a bearish pressure for prices.

Trading Recommendation

Entry: 0.70490

Reason for Entry:

50% Fibonacci extension, 78.6% Fibonacci retracement, horizontal swing high resistance

Take Profit: 0.70214

Reason for Take Profit:

Horizontal swing low support, 78.6% Fibonacci extension, 127.2% Fibonacci retracement

Stop Loss: 0.70705

Reason for Stop Loss:

Horizontal swing high resistance, 78.6% Fibonacci extension, 161.8% Fibonacci retracement