Price has bounced off our major support level perfectly and could rise further to our major resistance area. Our major level of support still remains at 0.9782 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support). Our next major level of resistance is at 0.9876 (Fibonacci extension, horizontal swing high resistance) and our next major level of support is at 0.9742 (Fibonacci retracement, breakout level).
Stochastic (34,5,3) is bouncing nicely off our 1.7% support level with good upside potential.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (34,5,3) is bouncing nicely off our 1.7% support level with good upside potential.
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