Price has been in a down-trend for a very long time. After forming a inverse head and shoulders pattern the price broke up through the trendline and the neckline of the pattern. Now we are testing a support zone (it was a resistance zone), the neckline and also the trendline of previous market structure.
There is also a fibonacci retracement with our zones.
I expect a raise of the price and also a broke of the minor trendline.
In conclusion a new long trend has started.
GREEN ZONE -> Fibonacci zone (from 0.62 to 0.79)
RED ZONE -> Support / Resistance zone
BLUE LINE -> Trend Line
BLUE DASHED LINE -> Minor trend line
There is also a fibonacci retracement with our zones.
I expect a raise of the price and also a broke of the minor trendline.
In conclusion a new long trend has started.
GREEN ZONE -> Fibonacci zone (from 0.62 to 0.79)
RED ZONE -> Support / Resistance zone
BLUE LINE -> Trend Line
BLUE DASHED LINE -> Minor trend line