On the H4 time frame, prices are approaching the support zone at 131.00, in line with the 50% Fibonacci level where a throwback to this zone could present an opportunity to play the bounce. A break above the upside confirmation level at 134.50, which is also the graphical swing high resistance could provide the bullish acceleration for further upside in prices, to the resistance zone at 137.80. Stochastic is testing support at 0.45 as well supporting the bullish bias.
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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.