We have a descending channel occurring here, and fib retracement was drawn from a high to a low point reached through the NFP release date on March 8. We have some fight at the .5 retracement level which was an area of interest from Wed-Fri last week. What do you think is going to happen? It looks like its been overbought for the time being (all things being equal) but of course things are not always that simple.
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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.