Joseph_Rofael

New Expected Ranges for the USDEGP

Joseph_Rofael Updated   
FX_IDC:USDEGP   U.S. DOLLAR / EGYPTIAN POUND
According to the new movements , adding to it the historical data and price action. we could see a new movements in the same direction between 32 and 38 for the USDEGP chart, at 2.618 fib retracement ratio.
we could see a correction in near future at 21.5 USDEGP at the first and second quarters.
we will face a new demand for the USD at the beginning of the second quarter , causing an new rally in chart near the shown area.
this technique calculated using harmonic movements, Fibo retracement and historical price action movements, using support and resistance lines.
Comment:
what a dramatically increase. according to that type of movement, we will see more movements in near future reaching the expected targets (32.4 / 37.7).
what is next is going to hard to be predicted, unless we see a correction movement.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.