In the bigger picture 🔰
🔹There is no clear sign of trend reversal yet. The larger down trend from 1.1079 (2011 high) is still in favour to extend. 61.8% projection of 1.1079 to 0.6826 from 0.8135 at 0.5507 is already met.
⚡️Sustained break there will pave the way to 0.4773 (2001 low).
🔸On the upside, however, sustained break of 0.6607 will suggest medium term bottoming and turn focus to 0.7031 resistance next.
🔹There is no clear sign of trend reversal yet. The larger down trend from 1.1079 (2011 high) is still in favour to extend. 61.8% projection of 1.1079 to 0.6826 from 0.8135 at 0.5507 is already met.
⚡️Sustained break there will pave the way to 0.4773 (2001 low).
🔸On the upside, however, sustained break of 0.6607 will suggest medium term bottoming and turn focus to 0.7031 resistance next.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.