A few things going on here. Pay attention to the MA 35 and MA 50, as well as the Fib and two lines outlining the current range.
Note that we are at a previous pivot point, which has also been a resistance line are in the past. The Fib is also pushing the 38.2 level, which has a history in Forex of being a turning point as well.
I'd like to see price head back up to the trend line, or close to it, before going back down. We've been down for 3 weeks now, and probably a while more to go.
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Note that we are at a previous pivot point, which has also been a resistance line are in the past. The Fib is also pushing the 38.2 level, which has a history in Forex of being a turning point as well.
I'd like to see price head back up to the trend line, or close to it, before going back down. We've been down for 3 weeks now, and probably a while more to go.
FULL RISK DISCLOSURE: Trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is no guarantee of future results. I am not a financial adviser nor am I offering any advise to you as to how you might trade or invest your money. All charts and writings are educational in nature, based on my current understanding of the markets and the trading market. DO NOT TAKE ANY EDUCATIONAL POST AS INVESTMENT ADVICE. IT IS NOT INTENDED AS SUCH. YOU ARE RESPONSIBLE FOR YOUR OWN TRADES.