On the H1 time frame, prices are approaching the support zone at 1639.00 which coincides with the 78.6% Fibonacci retracement level. A throwback to this 1639.00 support zone presents an opportunity to play the bounce to the next resistance zone at 1666.80. A break above this level would provide the bullish acceleration to the next resistance zone at 1694.80. Stochastic is approaching support at 5.28 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.