Preference:

Prices are testing our Pivot at 112.731 in line with 161.8% Fibonacci projection. We see potential for prices to climb towards our 1st resistance at 113.451 which is an area of Fibonacci confluences.

Alternative Scenario:

Alternatively, prices might dip towards our 1st support at 112.078 in line with 200% Fibonacci projection.

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.