Prices are consolidating in a triangle. We see potential for a bounce from our Pivot at 113.048 in line with 23.6% and 38.2% Fibonacci retracement towards our 1st resistance at 113.674 in line with 100% Fibonacci extension and 38.2% Fibonacci retracement.

Alternative Scenario:

Alternatively, prices may dip towards our 1st support at 112.701 in line with 61.8% and 61.8% Fibonacci extension.

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.