Buy above 1.2627. Stop loss at 1.2527. Take profit at 1.2829.
Reason for the trading strategy (technically):
Price is testing its support at 1.2627 (76.4% Fibonacci retracement, horizontal overlap support) where we expect it to rise to its resistance at 1.2829 (76.4% Fibonacci retracement, 50% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap resistance). We do have to be cautious of the intermediate resistance at 1.2730 (61.8% Fibonacci extension, 50% Fibonacci retracement, 38.2% Fibonacci retracement, horizonal pullback resistance).
RSI (89) shows a bullish breakout as well as a bullish divergence with price which contributes to our bullish bias.
Reason for the trading strategy (technically):
Price is testing its support at 1.2627 (76.4% Fibonacci retracement, horizontal overlap support) where we expect it to rise to its resistance at 1.2829 (76.4% Fibonacci retracement, 50% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap resistance). We do have to be cautious of the intermediate resistance at 1.2730 (61.8% Fibonacci extension, 50% Fibonacci retracement, 38.2% Fibonacci retracement, horizonal pullback resistance).
RSI (89) shows a bullish breakout as well as a bullish divergence with price which contributes to our bullish bias.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.