Type:
Bullish Bounce
Key Levels:
Resistance: 115.211
Pivot: 114.648
Support: 114.273
Preferred Case:
Price is on a bullish momentum and abiding to our bullish trendline. We see potential for prices to climb from our Pivot at 114.648 in line with 61.8% Fibonacci extension towards our 1st resistance at 115.211 in line with 100%, 161.8% and 127.2% Fibonacci extension.
Alternative Scenario:
Alternatively, prices might dip to our 1st support at 114.273 in line with 61.8% Fibonacci retracement.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.