Preference:

Price is consolidating in a triangle. We see potential for Prices to climb higher from our Pivot at 1.91785 in line with 38.2% Fibonacci retracement towards our 1st resistance at 1.93857 in line with 61.8% Fibonacci retracement and 161.8% Fibonacci extension.

Alternative Scenario:

Alternatively, prices may dip towards our 1st support at 1.91278 which is an area of Fibonacci confluences.

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.