Type: Bullish PressureKey Levels:Resistance: 4.8270Pivot: 4.7060Support: 4.6830Preferred Case:Price is near pivot level of 4.7060 in line with 61.8% Fibonacci retracement. Price can potentially rise up to the 1st resistance level at 4.8120, in line with 138.2% Fibonacci extension and 61.8% Fibonacci projection. Our bullish bias is further supported by the stochastic indicator where it is at support level.Alternative Scenario:Price might also dip towards the 1st support level of 4.6830 in line 78.6% Fibonacci retracement and 78.6% Fibonacci projection.Fundamentals:No Major News
Source: Tickmill