Currently, price level made a nice rejection off 1.7935 resistance level and now we could potentially see a rejection off 23.6 fib level. To determine if a BULLISH long term retracement is possible, I will be looking out for the breakout from this strong resistance level @1.7935. If so, we could see it heading towards 61.8 fib level. However, I am leaning towards a BEARISH movement for now, I will be seeing price movement going bearish minimally to 1.7600 support level. A rejection off that level will signal a good bullish opportunity but as mentioned a breakout from the strong resistance level will be a better indicator for a BULLISH climb. As of now, I will look to trade the BEARISH movement.
Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!!