The upward movement did not exceed the resistance of 0.382 Fibonacci, arriving already with the indicator at maximum strength. A new phase of weakness is inevitable now.
The resistance coincided with the weekly mm7. Is this just a break for a new bullish attempt or will the descent arrive at new lows?
The week ended with the strong dollar. Will this trend continue next week? Attention, if the support breaks at 1.13 the target is at 1.122 in the last days of the week.
The break of 1.13 support will easily lead to the next level, where it will probably bounce.
If the 1.13 support manages to remain inviolate, we will see a lateral trend with the objective of daily mm7 nearest Fibonacci 0.764 resistance in area 1.137. Only the new overcoming of this mm7 will start a new bullish phase.
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The resistance coincided with the weekly mm7. Is this just a break for a new bullish attempt or will the descent arrive at new lows?
The week ended with the strong dollar. Will this trend continue next week? Attention, if the support breaks at 1.13 the target is at 1.122 in the last days of the week.
The break of 1.13 support will easily lead to the next level, where it will probably bounce.
If the 1.13 support manages to remain inviolate, we will see a lateral trend with the objective of daily mm7 nearest Fibonacci 0.764 resistance in area 1.137. Only the new overcoming of this mm7 will start a new bullish phase.
Follow my blog, if you want!