Price is holding above the ascending trendline support and RSI is also approaching the ascending trendline support where we could see a bounce, showing signs of bullish pressure. We could see a bounce at 1st support, in line with 50% Fibonacci retracement, 78.6% Fibonacci extension and horizontal pullback support, and a further rise towards 1st resistance, in line with 78.6% Fibonacci extension and horizontal swing high resistance.

Trading Recommendation

Entry: 1.20975

Reason for Entry:

50% Fibonacci retracement, 78.6% Fibonacci extension and horizontal pullback support

Take Profit: 1.21332

Reason for Take Profit:

78.6% Fibonacci extension and horizontal swing high resistance

Stop Loss: 1.20713

Reason for Stop Loss:

61.8% Fibonacci extension and horizontal swing low support