Still within the falling wedge formed since 2008, the price bounced off the support, 500 pips below the parity 1/1.
Currently on the 1.05 zone, as long as this parity zone is not broken, we can expect a bullish continuation. Several areas are to be monitored, including points 0.5 and 0.61 of the fibonacci. Another element will be to be taken into account on this zone of 1.09 - 1.14, will the bearish trendline act as resistance once again ?
Otherwise, if the price sinks below the parity threshold, we could expect lows since the 2000s on the 0.85
Currently on the 1.05 zone, as long as this parity zone is not broken, we can expect a bullish continuation. Several areas are to be monitored, including points 0.5 and 0.61 of the fibonacci. Another element will be to be taken into account on this zone of 1.09 - 1.14, will the bearish trendline act as resistance once again ?
Otherwise, if the price sinks below the parity threshold, we could expect lows since the 2000s on the 0.85
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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.