The price seems to be breaking off an upward trend it has been on for over six weeks. I am positive we are going to see a retracement down to between 1.57629 and 1.56703 in the short term and then to the 0.618 fib level (1.58823 - 1.57807) shortly after. Well let me just state here that you should not jump on this right away, i advice you observe the chart and do your own research. this is not a trading advice.
Comment:
Well i was right. the price did dropped down to 1.56665 yesterday. And just to make i quick correction--the 0.618 fib level is actually in the price zone between 1.53687 - 1.52466. Will the price get there? my answer is yes unless something happens and the current trend is broken.