Nice hold at long-term trendline (purple) after 50EMA finally crosses below 200EMA; current consolidation is still around the red line, or yellow pattern average.
Recovery is still a possibility if we maintain above the buffer zone (dashed) however the gap (window of opportunity) between this zone and 1650 resistance is lessening.
At this point it's tough to determine where we may be heading but I'm still inclined towards further correction even if a small jump occurs.
A view of the H1 chart has been attached for a clearer visual.
Recovery is still a possibility if we maintain above the buffer zone (dashed) however the gap (window of opportunity) between this zone and 1650 resistance is lessening.
At this point it's tough to determine where we may be heading but I'm still inclined towards further correction even if a small jump occurs.
A view of the H1 chart has been attached for a clearer visual.
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