Price is facing bullish pressure from our first support at 1.54953, which is in line with our 100% Fibonacci extension and horizontal swing low support. It could potentially bounce from first support and rise further to our first resistance at 1.55366, in line with our 61.8% Fibonacci extension and horizontal swing high resistance. It is also worth noting that the Ichimoku cloud is also showing bullish pressure in line with our analysis, and the Stochastic indicator has also just bounced from the ascending trendline as well.
Trading CFDs on margin carries high risk.
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.