weekly time frame market structure is confirming a bullish trend (Higher highs- Higher lows)
after the USD interest rate increase...that caused a pullback from beginning of may 2023 into a Fibo retracement of 50 -61 zone, plus the zone lies on a previous SnR zone (resistance becomes support)....therefore theres high probabilities of bullish continuation.
after the USD interest rate increase...that caused a pullback from beginning of may 2023 into a Fibo retracement of 50 -61 zone, plus the zone lies on a previous SnR zone (resistance becomes support)....therefore theres high probabilities of bullish continuation.
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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.