No news to really worry about until Thursday and Friday and so it appears price action is almost ready for a quick pull back to the .5 to .618 fib retracement and then down to the .618 fib extension. Additionally, there is still some room left to potentially bounce from the 200 MA so we may see a little more downside before pulling back to 1.252 area.
Also appears that price action is adhering to the upward trend channel and so could very well have a bounce back toward the upper range to retest the 200 MA of the trend channel after the zig-zag completes to continue the uptrend or be rejected and send price action back towards downtrend.
Can potentially buy from A -> B and Sell from B -> C
Also appears that price action is adhering to the upward trend channel and so could very well have a bounce back toward the upper range to retest the 200 MA of the trend channel after the zig-zag completes to continue the uptrend or be rejected and send price action back towards downtrend.
Can potentially buy from A -> B and Sell from B -> C
Comment:
Comment:
Also forgot to mention that we are in the middle of a corrective wave with primary trend being long. Probably best to wait until c wave is complete to go long
