On the H1 time frame, prices are approaching the support zone at 1654.80 which coincides with the Fibonacci confluence levels. A throwback to this 1654.80 support zone presents an opportunity to play the bounce to the next resistance zone at 1675.20. This resistance zone lines up with the 23.6% Fibonacci retracement and 100% Fibonacci extension. Stochastic is testing support at 3.79 as well, supporting the bullish bias.
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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.