We’re seeing price bounce off an area of really nice support at 133.90 onwards (38.2% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap support, bullish price action) and a strong bounce could occur at this level to push price up towards 134.74 resistance (Fibonacci extension, horizontal swing high resistance). Our next major level of support is at 133.39 (Fibonacci retracement, horizontal swing high support).
Stochastic (21,5,3) is seeing major support above 3.8% where a corresponding bounce could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (21,5,3) is seeing major support above 3.8% where a corresponding bounce could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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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.