Based on the H4 chart analysis, we can see that the price could potentially bounce off our buy entry at 11.4720, which is an overlap support level
Our take profit will be at 1.4828, which is a pullback resistance level.
The stop loss will be placed at 1.4608, which is a pullback support level.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (https://xnmpay.com/):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (https://xnmpay.com/):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (https://xnmpay.com/):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at https://xnmpay.com/
