Sellers broke the support at 126.2 region. So we are looking for a retest of the broken support (now turned resistance) and a continuation to the downside until the next support level of 125.00 level. This level lines up with the 61,8 % fib retracement so we can lookout for possible rejections off this level back to the 0% Fib/Resistance level of 126.75. A break of the 61.8% Level will expose supports of 124.5 and ultimately 124.0 .
Trade active:
Target 1 reached. The support level of 125.00 has been broken and is being retested. More downside in view?? We'll find out..
Comment:
Trade is currently up 150 pips. Target 2 in view.
Comment:
Target 2 was Smashed!! 05-May(05)