transparentforextrading

olly48

Looking at the 4 hour, I expect the retrace to end up at the 0.5 fib, which shows the greatest level of resistance before going down -0.272

PEdward

Price now testing our area of resistance and we have divergence on the 4 hour time frame. Looking for price to drop down to support at the very least, with the potential to complete the head and shoulders pattern bringing down to 1.82000 region. Of course if price rejects our area of support then price will continue pushing back up.