Preference:

Prices are on bullish momentum. We see potential for a bounce from our Pivot at 123.916 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci retracement towards our 1st resistance at 124.777 in line with 161.8% Fibonacci extension and 200% Fibonacci projection. Prices are trading above our Ichimoku clouds, further supporting our bullish bias.

Alternative Scenario:

Alternatively, prices may dip towards our 1st support at 123.532 in line with 61.8% Fibonacci retracement and 100% Fibonacci retracement.

Improve Your Trading

Did you know that SuperTrader Markets has a VIP room where you can learn to trade from a team of award-winning analysts?

Check out our exclusive Live Trading Room where you can ask questions directly to a team of CFA, CMT, CFTe accredited analysts.