Price has stalled at the 61.8% fib retracement of the bullish move up.
Technicals
- Horizontal range rotation
- Bullish channel rotation
- Bearish Weekly downtrend
Confluences
- 61.8% retracement
- recent structure
- Daily Demand Zone
- Median trendline support
- 127% extension meets massive Supply level
If we end on a bearish candle we could be in for another move down to previous support around 1.800 and then 1.700
Technicals
- Horizontal range rotation
- Bullish channel rotation
- Bearish Weekly downtrend
Confluences
- 61.8% retracement
- recent structure
- Daily Demand Zone
- Median trendline support
- 127% extension meets massive Supply level
If we end on a bearish candle we could be in for another move down to previous support around 1.800 and then 1.700
Trade active
Lovely move today out of consolidation pattern (falling wedge).Note
Price action DID present itself well before the Draghi speech.Note
Target 2 hit
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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.
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.