Support Level
Major Support level = 139.70
Minor Support level = 145.40
Resistance Levels
Major Resistance Level= 156.80
another strong resistance level = 147.40
Timeframes Use= Weekly, Daily and Hourly
Weekly Timeframe has been used to spots the Support and Resistance.
Daily Time that has been used to get possibities of movement -Up or Down but strong Conviction is
UP
Daily Time Frame Use to Understand the Sell Zone that is below the trendline and buy Zone that is above the Trendline. Trendline is break out and form Higher high and higher low (possiblities) even Fibonacci Retracement has reached or retrace at level 61.8 (following Picture)
Daily Timeframe made me a decision to look for a buying opportunity. It has been Retracing and retrace level at 61.8
I have spotted - it has retraced and break out the trendline.
Conclusion:-
execute - long position
stop loss - 10 pips below the turning point i.e 145.56
Profit Target is 147.50 or fellow the trend and move stop loss until stop out.
Risk Disclaimer
Trading any financial assets can be a challenging and potentially profitable opportunity for investors and Traders. However, before deciding to participate in the Financial Market, you should carefully consider your investment objectives, level of experience, and risk appetite.
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