I am watching and will be taking a trade if we can pull back up and create a lower high as well as a touch of the trendline with the possible rejection of the 1.3000 resistance level.
We are in a strong Weekly uptrend but at the moment we are having a weak retracement. Looking on the Fibonacci from the low of 1.19566 to 1.35086 we have just tapped and rejected the 50% level, however, I do think we can come down to test the 61.8% level.
We are in a strong Weekly uptrend but at the moment we are having a weak retracement. Looking on the Fibonacci from the low of 1.19566 to 1.35086 we have just tapped and rejected the 50% level, however, I do think we can come down to test the 61.8% level.