The pair is currently testing trendline 1. A rejection to the downside will open up the 1.59xx support.
A further retracement to the 0.382 fibonacci level is on the cards.
A further retracement to the 0.382 fibonacci level is on the cards.
Note
2 days later, price is yet to move higher after breaking below a strong trendline. It would be nice to see a retracement to the 0.382 fibonacci level 🎯 of the previous bearish impulse 🐻. However, in the absence of a retracement, further weakness is expected. Note
Price still playing around the trendline as of 20th November
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Related publications
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.