Prices are on a bullish momentum and abiding to a bullish trendline. We see potential for prices to climb from our Pivot at 114.255 in line with 100% Fibonacci retracement and 100% Fibonacci extension towards our 1st resistance at 114.659 which is an area of Fibonacci confluences.

Alternative Scenario:

Alternatively, prices might dip towards our 1st support at 113.805 in line with 50% 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.