Price continues to trend above the ascending trendline and is approaching our first support at 0.69578, in line with our 61.8% Fibonacci extension, 76.4% Fibonacci retracement, and horizontal swing low support. It could potentially bounce from here and rise further to our first resistance at 0.69852, in line with our 78.6% Fibonacci extension and horizontal swing high resistance. It is also worth noting that the Ichimoku cloud is also showing bullish pressure in line with our analysis.
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.
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