Preference:
Prices are consolidating in a parallel channel. We see the potential for further bullish continuation from our Pivot at 113.581 in line with 38.2% Fibonacci retracement towards our 1st resistance at 114.234 in line with 61.8% Fibonacci extension.
Alternative Scenario:
Alternatively, prices may dip towards our 1st support at 113.321 in line with 127.2% Fibonacci extension 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.