Yesterday trades saw rising the pair for the second straight day using the formed bottom at
the support level 1.4255, this rising is a strong sign of beginning forming a corrective bullish
direction for the bearish direction which started from 1.4939, during the last intraday trades
the pair was trying to break the level 1.4416 which represents 23.6% of Fibonacci's
correction level for the bearish move (From 1.4939 to 1.4255), breaking this level means
more rising for the pair targeting the level 1.4516 which represents 38.2% of the same
Fibonacci's levels for the same bearish move, and what confirms the next rise is trading the
pair above the simple moving averages now.
The stability of these expectations requires the stability of the support level 1.4325.
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