We can see a rejection of the 61.8% level and and also a rejection of weekly resistance. We have broken th tl and currently awaiting a flag to look for short opportunities on this pair.
I AM SEEING A CHANEL OF SUPPORT AND RESISTANCE ON A DAILY TIME FRAME WHICH HAS BEEN RESPECTED 4 TIMES NOW. I AM LOOKING FOR SOME CONSOLIDATION OVER THE NEXT FEW DAYS AND PRICE TO HIT 1.0500 FROM WHICH WE COULD SEE A REVERSAL TO 1.09570 AND THEN BACK DOWN AGAIN TO COMPLETE A THE FIB D EXTENSION.
Target set at Weekly support of 1.2250. MA Crossover on 4HR and multiple rejections of Monthly resistance at 1.2500 is a clear signal to short.
We can see a Fib formation begging to form on the 4HR chart, Fib C is correlating with 61.8% Fib. 1.3400 has shown strong support and we believe this will be heading to 1.3700.
We can see a Fib pattern forming on the 4H chart, MA Crossover also showing on 4HR, Weekly resistance aligning with Fib C. We have set our target at monthly support 1.700 and second target at Fib D 1.