Price is approaching 1st resistance, which is in line with our 61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal swing high resistance. We could potentially see a reversal at this level and further downside towards our 1st support, which is in line with our 61.8% Fibonacci extension and horizontal swing low support. It is worth noting that price is still holding below the Ichimoku cloud and descending trendline resistance, showing bearish pressure in line with our analysis.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.