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02.08.2022 10:37 AM
On the H4, prices have broken the bearish trend moving into a bullish biased trend. Price is now testing at the resistance 1.028, 50% Fibonacci retracement level. If price continues in the ascending trend, it will pullback further to test at the second resistance which is also a key swing low level and 61.8% Fibonacci retracement at 103.6. Alternatively, if prices bounces off the resistance level, it will test at the first support 1.011.Trading Recommendation
Entry: 1.208
Reason for Entry: Bullish continuation
Take Profit: 1.036
Reason for Take Profit: 61.8 Fibonacci retracement
Stop Loss: 1.01
Reason for Stop Loss:
Swing low intermediate support level
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