Price playing Fibonacci and also in counter Uptrend of regular price movement of the pair.
Tested and broken the long-term outer trend in recent times
Expecting a Fib retracement to (at least) the 0.5 Fib level/potentially to the 0.618 which encounters the inner upward trend line (blue).
From there there will be a possibility of a long trade with a price bounce, uptrend continuing and the long-term downtrend finally being broken - something to watch?
Tested and broken the long-term outer trend in recent times
Expecting a Fib retracement to (at least) the 0.5 Fib level/potentially to the 0.618 which encounters the inner upward trend line (blue).
From there there will be a possibility of a long trade with a price bounce, uptrend continuing and the long-term downtrend finally being broken - something to watch?