It is more likely to go down to around 0.8176 or lower, and after that, it might have potentially to go up to around 0.8345
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It is more likely to go down to around 0.8176 or lower, and after that, it might have potentially to go up to around 0.8345
If a M15 close above 0.8440 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 0.8350 sell only and do not buy. If price closes back above it again do nothing
The range 0.8440 and 0.8350 is neutral area, any trade done in between is personal decision and not part of this analysis
Weakness has extended to the Fibonacci level (1710) and consolidation / pullback is favored in wave 4 before a new low is registered in wave 5. 1750/70 is resistance.
the pair has closed it's daily daily under the level of 0.8400 , and that's mean that the down trend is still standing and the pair might reach 0.8450 and then 0.8500
the chart is showing that the pair has succeeded in closing it's daily candle above level 0.8500 , and that's mean the up trend is still standing and the pair might head to 0.8550 and then 0.8580
If a M15 close above 0.8540 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 0.8400 sell only and do not buy. If price closes back above it again do nothing
The range 0.8540 and 0.8400 is neutral area, any trade done in between is personal decision and not part of this analysis
In the process of a corrective rally since basing out by 0.8000 several days back, with the market rallying back above 0.8500. However, any additional gains from here are seen as limited with a lower top sought out somewhere around 0.8500 in favor of the next major downside extension and bearish resumption.
The break above resistance was good for over 100 pips and now price has apparently bounced off 61.8% fibonacci retracement line - signal to close long positions. Long positions should be re-entered above 0.8538 where the uptrend is more likely to resume. Until then stay out or watch for a potential bounce from support - 0.8420.
the pair has closed it's daily daily under the level of 0.8500 , and that's mean that the down trend is still standing and the pair might reach 0.8550 and then 0.8600
The break above resistance was good for over 100 pips and now price has apparently bounced off 61.8% fibonacci retracement line - signal to close long positions. Long positions should be re-entered above 0.8538 where the uptrend is more likely to resume. Until then stay out or watch for a potential bounce from support - 0.8420.