Price is testing our first support at 1.5925 (horizontal pullback support, 61.8%, 76.4% Fibonacci retracement) which coincides with our long term ascending support line. A strong bounce might occur above this level, pushing price up to our major resistance at 1.6003 (horizontal overlap resistance, 38.2% Fibonacci retracement) which coincides with the short term descending resistance line.
Stochastic (55,5,3) is also seeing a bullish divergence and is approaching our major support and a bounce off this level might be a good precursor for a potential rise in price.
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Stochastic (55,5,3) is also seeing a bullish divergence and is approaching our major support and a bounce off this level might be a good precursor for a potential rise in price.
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
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.