In this analysis, I am expecting EU to create a new LL after the retest of an M's neckline in the daily charts. The neckline of the M offers a strong confluence of resistance as the 78.6 fib level; together with a strong weekly key area guards the price from further moving to the upside.
Expect a bit of consolidation before price starts heading downwards as the market may need to accumulate liquidity before pushing through with the bearish objective.
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Expect a bit of consolidation before price starts heading downwards as the market may need to accumulate liquidity before pushing through with the bearish objective.
If you find this simple breakdown helpful, please consider following for more updates.
P.S. PLEASE TRADE AT YOUR OWN RISK.