It seems that the longtermtrend broke these days. The Pair tried to recapture the trend, but the test was directly sold again -thats bearish! If the pair can`t recapture this trend, the momentum is bearish - only trading above 670 respective 680 will brighten the chart. Imo, we are on the way down to the 38,2 fibo @ 630. 646 is the pro cyclical main trigger for that Szenario Comments are welcome -Agree or disagree!
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Next action point ahead! Trading below 646,3 could initiiate a fast shortterm selling wave
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action point triggered
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H&S ahead? Here is the longterm eprspective!
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again reached action point (resist)
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btM_Afta
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Could you update your Daily view? Thanks MJ
btM_Afta
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If close up 650.30 could be a Bullish Engulfing ? Regards !
btM_Afta
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Thanks for the UPDATE ! RSI still ok?? .. could you please tell me what is 630, or why could be a support ? thanks
The_Cannalyst
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630 is the minimal correction level (38,2 fibo) of the upwave since april 2014
btM_Afta
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I did this, so im wrong?? ... I though that 623 is minimal.
The_Cannalyst
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longterm overview:
btM_Afta
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Really Nice ! I dont know if Chilean Central Bank will allow that forecast... because at the end of the year the pair must be at 680 so that means a trend change??
The_Cannalyst
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;-) yes 680 is important now
btM_Afta
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Yeah they dont want a so low exchange, but we must break 670 first ... let see if we get 630 and then what the chart said !
thanks
btM_Afta
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Thank you for the update !!
But what if doesnt break that strong resistance... 2 fibo show 646 as a 0.618 retracement. Which could be the other chance?? Thanks