The price has been growing without any sings of a reversal or a stop. The impulsive moves which have been happening recently have created many opportunities for traders to benefit from. However, as we all know, it can't keep growing forever. Therefore, some corrections are needed. We are closely monitoring the price action of the pair and looking for some signs of bullish weakness. Right after we see signs of bulls losing power, we will be opening short positions and aiming for the 0.5 Fibonacci retracement level as identified on the graphic.
Happy trading, family!
Happy trading, family!
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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.