Price may face bullish pressure as it continues to hold above the H4 ascending trendline support. We could potentially see a bounce at our 1st support level at 0.93012 in line with our 38.2% Fibonacci retracement and 61.8% Fibonacci extension and a further rise towards our 1st resistance level at 0.93683 in line with -27.2% Fibonacci retracement and 61.8% Fibonacci extension. Our bullish bias is further supported by how Price is holding above the EMA and the Ichimoku cloud and MACD is holding the 0 line. Otherwise, Price may bearish to our 2nd support at 0.92501 in line with 78.6% Fibonacci retracement and 161.8% Fibonacci extension.
Trading CFDs on margin carries high risk. 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.