As we can see on the chart price went all the way up from 0.89200 (since August 7th until August 16th) to 0.90400. Price found resistance there and went all the way down to the trendline (right below S1).
Price found support on the trend line and went up to 0.90400 (a second touch on this resistance level).
After the resistance of 0.90400 level price broke below FIB 0.786 level and S1 and found support on FIB 0.618 below S1 (same zone where price found support before the 2 touch on 0.90400).
1 - Price found resistance on FIB 0.786 and went all the way down to the trend line!
2 - After the support of trend line, price found resistance on FIB 0.618 level.
3 - Once more price found support on FIB 0.618 after a new touche on 0.90400 level (as in the past).
4 - Price is testing FIB 0.786 support after a second touche on 0.90400 level.
My Bias
SELL if price close below FIB 0.786
BUY if price close above 0.90500
Good Trades!
Price found support on the trend line and went up to 0.90400 (a second touch on this resistance level).
After the resistance of 0.90400 level price broke below FIB 0.786 level and S1 and found support on FIB 0.618 below S1 (same zone where price found support before the 2 touch on 0.90400).
1 - Price found resistance on FIB 0.786 and went all the way down to the trend line!
2 - After the support of trend line, price found resistance on FIB 0.618 level.
3 - Once more price found support on FIB 0.618 after a new touche on 0.90400 level (as in the past).
4 - Price is testing FIB 0.786 support after a second touche on 0.90400 level.
My Bias
SELL if price close below FIB 0.786
BUY if price close above 0.90500
Good Trades!