Hello Sophisticated Traders,
The weekly close is indicating a bullish candle, additionally the break of the 4 hours 200 MA, this is a strong indication of a potential test of .6800, which is also the weekly 200 MA resistance. Therefore, we are looking for a retest of the high as the long-term resistance.
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Happy...
Beginning of W Pattern started around April 20th 2014.
We are currently in the trough of the W center. Looking for a swift downward move before retracing to April 2014 levels.
We've now reached a Double Top on the weekly TF, and poised for the beginning downward move to .6250 area.
