Current ongoing leg is leg one out of 3. No pullback have begun just yet.
Since USD have completed a 3 leg downside movement after hitting fib 1.618 in the middle of April and hitting 0.618 - one can now see that it is going for 2.618 (not visible on chart) aim for 12200 for now.
The USD is now approaching a supply zone which should trigger the first pullback on this 3 leg movement. Once it starts then the below Demand zone @ 11850 (ish) should hold and allow a re-entry long. If it doesnt hold then this analysis is invalidated.
Since USD have completed a 3 leg downside movement after hitting fib 1.618 in the middle of April and hitting 0.618 - one can now see that it is going for 2.618 (not visible on chart) aim for 12200 for now.
The USD is now approaching a supply zone which should trigger the first pullback on this 3 leg movement. Once it starts then the below Demand zone @ 11850 (ish) should hold and allow a re-entry long. If it doesnt hold then this analysis is invalidated.
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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.