and is now consolidating between the 61,8 and 76,4
extension. Notice the perfect movement of price within
the inner two Channels. Here price is struggling
to close above the . Also notice that price has
completed the slightly imbalanced , but hasn't
bounced significantly from the target level at 1,3380.
All in all, chances are that further losses will come with
a possible completion of the at 1,3215. If price close
above the , look for resistance at the 2nd (green)
quartile. 1, 3515 is the Horizontal Resistance and the
Yearly PP /Monthly PP at 1,3470-85. Major Support
below the D is the 1,272 extension (and 2nd target of
) at 1,3080 AND the Yearly PS1 at 1,3050.
A sound strategy is to enter short on a bounce around the