Buy above 111.35. Stop loss at 110.35. Take profit at 113.80.
Reason for the trading strategy:
We remain bullish above 111.35 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a push up to 113.80 resistance (Fibonacci retracement, horizontal swing high resistance).
RSI (34) is approaching strong support at 36% and also sees bullish divergence versus price, signalling a bullish bounce is soon approaching.
Reason for the trading strategy:
We remain bullish above 111.35 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a push up to 113.80 resistance (Fibonacci retracement, horizontal swing high resistance).
RSI (34) is approaching strong support at 36% and also sees bullish divergence versus price, signalling a bullish bounce is soon approaching.