Hope y'all caught the 300 pips buy move last week. Mehn, that was fast. Well, price is a major resistance and is currently retracing. The question is whether price action is retracing for a further move upwards or a fall back to the support level at 2.2233?
The chart pattern is showing a falling wedge. A break of resistance 2.25 and retest would be confirmation for an entry for buys, or a break of the 61.8 & 50 fib zone/formation of lower highs and lower lows would be confirmation for a sell entry. The market always gives a signal, so we watch once the market opens
The chart pattern is showing a falling wedge. A break of resistance 2.25 and retest would be confirmation for an entry for buys, or a break of the 61.8 & 50 fib zone/formation of lower highs and lower lows would be confirmation for a sell entry. The market always gives a signal, so we watch once the market opens
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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.