We can see that price is abiding by the descending trendline resistance, however, price broke through a intermediate descending trendline resistance and hence, we can expect price to make a small bullish push up. We can expect price to push up from 1st Support in line with 61.8% Fibonacci projection towards the 1st Resistance in line with 38.2% Fibonacci Retracement and 61.8% Fibonacci projection. Our short-term bullish bias is further supported by the RSI indicator where it is abiding to a ascending trendline.
Reason for Entry:
61.8% Fibonacci Projection
Take Profit: 1.16850
Reason for Take Profit:
61.8% Fibonacci projection and 38.2% Fibonacci Retracement
Stop Loss: 1.14947
Reason for Stop Loss:
Graphical overlap support, 100% Fibonacci projection
*Phân tích thị trường được đăng tải ở đây có nghĩa là để gia tăng nhận thức của bạn, nhưng không đưa ra các chỉ dẫn để thực hiện một giao dịch.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.