in the half of the consolidation range and price is
expected to stay within this range in the coming month which
may include a test of the Yearly S1 at 0,83.
On weekly tf price closed below monthly S2, a strongly
close, suggesting further losses during next week.
On daily tf price closed just below the weekly S2 in
range, suggesting further losses during monday trading
and for price to hold below Weekly S1.
The monthly close gave a Kumo cloud Breakout
which is a rare event on this high timeframe. It was shy but
if it is real and have follow through, it can take price a long
distance downward, perhaps to the (white line)
which would also complete the large .(It has
an D point right at the which is honey
for a trader). For downward continuation,
it will be critical how price behaves around the 61,8 fib
of the CD leg. If it is taken out chances are good to see
a completion of the .
Support is the 61,8 fib of CD leg at 1,8380 and Yearly S2
at 0,83. Next major support is in confluence with
the 38,2 fib of 2009/2012 wave at 0,7950-0,80. The
will meet up close to the SMA200 next month