Scary as it may seem, the price action on the recent consolidation, along with the MACD, have formed on the 4H chart a pattern much similar with the April-May sequence that led to the collapse of June and July. The first low before the recent Bottom was made on the 2.618 Fibonacci extension, as seen on the chart. If we apply the same parameters, we get 89.500 as the next target.
Are you betting on a USD sharp sell-off after the U.S. elections?
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
Wow, nice technical. And looking at the macd this could be an even faster sell-off than may-june. Glad I'm not in USD, but cant help but fear the impact in general.