Price has just bounced off our first support in line with our 38.2% Fibonacci extension, 50% Fibonacci retracement and horizontal swing low support, where we remain bullish above this level. We expect a possible further rise up to our first resistance at 3.57843, which is in line with our 61.8% and 78.6% Fibonacci extension levels. It is also worth noting that price is holding above both our ascending trendline and the Ichimoku cloud, which shows bullish pressure in line with our analysis.
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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.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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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.