The .38 retracement level has been broken, and its obvious, if the rectangle price pattern which is indicated with the red lines (1950), breaks above, the next target will be 1961 with stop loss of 1937. The volume on the break of 1950 level will be crucial. If a large volume appears, its a sign for a strong bullish move.
Trade closed: target reached
The break of 1950 level was not strong enough, and now it hits 1961 resistance, so the move is an exhaustion so the trend will be bearish, the short targets will be 1949 and 1937$.
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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.