What a day and week we have so far. With China effecting our markets, we've been on a crazy roller coaster, but we may be reaching the top!
In my chart, I'm trying to address some structure that could effect the long term direction of this pair.
The first green line, below the other green line is the top part of a tunnel that the pair has been staying in for some time. If we break above this level, we should expect the pair to continue up.
The second green line, above the other green line represents structure that if broken, we should expect more rallying until the next big structure . .01 cents above this level.
The red line represents a change in investor sentiment; they've road the storm, and they feel it should come back down. From this level, we should watch the white to see if a long term decline is in store.
This one is a bit worrisome, but I'm intrigued to see the outcome.
Remember to leave comments and feedback as it is always appreciated.