On the H4 time frame, prices are approaching the resistance zone at 142.90, in line with the Fibonacci confluence levels where we could see a reversal below this level. The 142.90 resistance zone coincides with the graphical resistance zone and 61.8% Fibonacci retracement and extension level. Stochastic is approaching its resistance at 89.84 as well, where we could see a reversal in prices.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.