Type : Bullish Pressure Resistance : 4.7730 Pivot: 4.7000 Support : 4.6415
Preferred Case: Price is near pivot level of 4.7000 in line with 50% Fibonacci retracement . Price can potentially rise up to the 1st resistance level at 4.7730, in line with 78.6% Fibonacci retracement and 78.6% Fibonacci projection . Our bullish bias is further supported by the stochastic indicator where it is at resistance level .
Alternative scenario: Price might also dip towards the 1st support level of 4.6415 in line with a graphical swing low support.
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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