I want to be able to watch this in retrospect as the next few months go by. This battle right now is worth quite possibly 1450 pips. Either down from here, or up from the bottom of the consolidation formation on the daily or weekly.
Trade active
As you can see, the battle rages on. A few key points: 1.6120 is the 50% of the Jan spike up to 1.6795. 1.62575 is the 50% retrace of that spike based on the current 1.5721 low following the Jan. Yen flash crash. There is also 1.63787, the 50% of the 2008/2009 crisis crash where the pair spiked over 2.11. 1.6257 is the current target to add one more short. A third will be added once a trend top is established on at least a daily, if not a weekly chart.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.