The support zone is lower than 61.8% Fibonacci of the global upward movement is a negative sign for an uptrend scenario.
Currently, the price is locked inside the 1.0 - 1.5 channel.
We could buy if the price gets back above the 61.8 % Fibonacci and add a position in case of the crossing of the 1.5 resistance.
From the other side - it is to sell if we will go lower than 1.3 and further below the 1.0 level, such move will destroy the global uptrend scenario.
Currently, the price is locked inside the 1.0 - 1.5 channel.
We could buy if the price gets back above the 61.8 % Fibonacci and add a position in case of the crossing of the 1.5 resistance.
From the other side - it is to sell if we will go lower than 1.3 and further below the 1.0 level, such move will destroy the global uptrend scenario.
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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.