Long ascending line
Major resistance at 1.2349 which also coincides with 50% Fibonacci retracement top down - therefore placed that as our sell entry.
Major support at 1.22128 also at 50% retracement bottom up. This would be our 1st profit target
If it gets to this point it would have broken the long ascending line, indicating a move further down to our 2nd profit target which is placed at 61.8% retracement
Looking at RSI: slight bearish descending line
Looking at stochastic chart, prices might go up to its resistance before dropping down further, therefore placed stop loss slightly above the 61.8% retracement
Major resistance at 1.2349 which also coincides with 50% Fibonacci retracement top down - therefore placed that as our sell entry.
Major support at 1.22128 also at 50% retracement bottom up. This would be our 1st profit target
If it gets to this point it would have broken the long ascending line, indicating a move further down to our 2nd profit target which is placed at 61.8% retracement
Looking at RSI: slight bearish descending line
Looking at stochastic chart, prices might go up to its resistance before dropping down further, therefore placed stop loss slightly above the 61.8% retracement