Hi Traders!
The market broke out of the parallel channel at 0.68500.
Then it fall down until the support area at 0.66800.
The market didn't do a proper pullback.
Now it reached the resistance which was lastly touched on October '19.
After that it will make a pullback and for that we use the Fibonacci Retracement Tool.
Our conservative target area is at the Fib Level of 23.6%.
We recommend to buy the pullback with a confirmation towards the Fib-Levels.
Thanks and good luck :)!
The market broke out of the parallel channel at 0.68500.
Then it fall down until the support area at 0.66800.
The market didn't do a proper pullback.
Now it reached the resistance which was lastly touched on October '19.
After that it will make a pullback and for that we use the Fibonacci Retracement Tool.
Our conservative target area is at the Fib Level of 23.6%.
We recommend to buy the pullback with a confirmation towards the Fib-Levels.
Thanks and good luck :)!