in the half of the consolidation range and price is
expected to stay within this range in the coming month which
may include a test of the Yearly S1 at 1,5396.
On weekly tf price closed below monthly S2, a strongly
close, suggesting further losses during next week.
On daily tf price closed just below the weekly PP which is
suggesting consolidation during monday with price
moving between Weekly R1 and S1.
is sloping down after retest the previously
broken. A break of the next may indicate downward
Overall, price is expected to reach the D level of the ABCD
pattern which is in nice confluence with the Yearly S1 and
the lower band of a long term around 1,54 in the
coming month. Note that price broke the 61,8 fib of CD leg
and has come back and tested it from below as resistance,
which adds to chances of a completion of the .