Price is at a very low point in the market and has made a resistance zone at price 0.87668. Were hoping for price to continue towards the upside reaching the trend line.
Expecting price to test 50 MA(1911.96) on the H4 chart than continue dropping down to reach Support Zone 1726.10. The Sell limit price 1911.96 was previously an area of Support but is now acting as Resistance.
Expecting price to retrace to the golden zone. Once price reaches the golden zone (50-60% Fib) I will look for a long position expecting price to reach Resistance Zone 1.26710. If price continues passed golden zone I will look for a short position. At that point I will look for price to reach Support Zone 1.23407.
Expecting Price to hit Resistance Zone 0.67829 Long Term. Price may continue to pull back to Support Zone 0.62373 than make its way up to Resistance Zone 0.67829 Long Term.
