Price shows a downtrend given the 1day time frame. I am expecting for price to drop down to the 70.9-79% Fib before a reversal. I drew a long term Fib based on the lowest low to the highest high.
I am also expecting for price to drop below the previous low before we see the smart money reversal. This goes in conjunction with the strength in the USDollar Index.
The area in the green rectangle is where I'm expecting for price to drop down to. If you look at the institutional pricing, it seems to be fluctating between the ranges within the area of the green rectangle. Expect price to rally.
I am also expecting for price to drop below the previous low before we see the smart money reversal. This goes in conjunction with the strength in the USDollar Index.
The area in the green rectangle is where I'm expecting for price to drop down to. If you look at the institutional pricing, it seems to be fluctating between the ranges within the area of the green rectangle. Expect price to rally.