This is my point of view. My TA shows me that this should retrace and should fall to the levels 1.213xx which is in the middle of 23.6 and 38.2 level of Fibbo followed by the AB=CD pattern. After the correction, on the long term, we should attack the 1.24x level. Also, I am finding a support on the levels of 1.213xx on MA. But, nowadays we sould see the effect of...
As far as I am concered, the price needs to fall. On the D1 chart, the price is in ascending channel and has broken few resistance levels. If you form an ABCD pattern, the price did it exactly. I think that it needs to be corrected and the price will fall to the levels of 1.20973 (fibo 23,6%) or even to the level 1.20293 (fibo 38,2%). My claims are found also in...
My thoughts are based on rally for the past few days before the NY holidays. I am expecting good German data to support the price to continue the upside momentum. Am also monitoring the NFP data get the confirmation for the upside trend. The trend is our friend.
