Hi All, my main 3 take-outs from this analysis are the following:
1- In the weekly chart - so long term view - the US$ is possibly going to re-test the 110 area (at least!). In fact, in that area we have a strong uptrend line (in red) which will possibly act as support
2- The cross came out from a descending channel which lasted since the end of 2016, and this breakout happened in March this year
3- Fibonacci tool suggests that the cross might not only re-test the 110 level (38.2 fibo level) but also test the 109 and the 107 (50% and 61,8%)
Not a financial advice, just personal opinion. Do your own due diligence and good luck!
1- In the weekly chart - so long term view - the US$ is possibly going to re-test the 110 area (at least!). In fact, in that area we have a strong uptrend line (in red) which will possibly act as support
2- The cross came out from a descending channel which lasted since the end of 2016, and this breakout happened in March this year
3- Fibonacci tool suggests that the cross might not only re-test the 110 level (38.2 fibo level) but also test the 109 and the 107 (50% and 61,8%)
Not a financial advice, just personal opinion. Do your own due diligence and good luck!
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Le mie analisi tecniche sono potenziate dal Forecaster Terminal di Forecaster.biz. Ottieni il 10% di sconto sul tuo abbonamento con il codice FRAMER10. Scopri di più cliccando su questo link:
forecaster.biz/y/FRAMER10?coupon=FRAMER10
forecaster.biz/y/FRAMER10?coupon=FRAMER10
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.