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FIL/USDTPERP Potential Upward Movement

FIL/USDTPERP Long-Term Trend: Bullish

Key Resistance Levels: 85.730, 89.600, 89.650.

Key Support Levels: 75.285, 66.115, 66.000.

Daily Chart:

The price on the higher time frame found buyers around the 61.80 % Fibonacci retracement which led to a huge movement to the upside, and it succeeded to break the strong daily resistance around the 75.285 USDT mark. We expect further movement to the upside in the coming hours.

FIL/USDTPERP Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the price is traded inside a bullish channel formation where the price also found buyers around the 61.80 % Fibonacci retracement. Currently, the market is traded inside a bullish channel that has bias to be broken to the upside and continue its main direction toward the next daily resistance.

Signal Idea:

Buy Limit Order @ 79.395

TP 1 @ 85.550

TP 2 @ 89.600

Stop Loss @ 77.360

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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