The range between 1.77200 and 1.77370 is poised to be a crucial barometer for both bulls and bears. This level represents the Fibonacci 0.38 retracement from 1.82823 to 1.73843 and has demonstrated significant support and resistance on seven occasions in recent times. The question now is whether it will break on the eighth attempt or face rejection at the resistance. For sellers, these levels serve as stop-loss points. A break above is anticipated to trigger a buying momentum.
Trade active:
Resistance at 1.77370 has been broken. Buyers are in control now eyeing 1.79500 as a next target. Stop loss for buyers are now 1.76240
Resistance at 1.77370 has been broken. Buyers are in control now eyeing 1.79500 as a next target. Stop loss for buyers are now 1.76240
Trade active:
100 pips up from 1.77400 from our buying entry. Move Stop loss to breakeven.