After breaking out above Weekly Horizontal Range Resistance (white line), Price has broken back into the preceding consolidation range.
Price has also closed below 61.8% Fib of the swing higher with momentum.
I EXPECT Price to bounce here, or at the bullish trendline.
THEN Price should find that Resistance at 0.906 (white line) should hold, offering a chance to go short.
NB: Price is still above 200EMA, so longer term trend is bullish
Possible Target #1: 0.900 (lower boundary of consolidation)
Possible Target #2: 0.895 (Confluence of 127% Fib extension AND minor support
Price has also closed below 61.8% Fib of the swing higher with momentum.
I EXPECT Price to bounce here, or at the bullish trendline.
THEN Price should find that Resistance at 0.906 (white line) should hold, offering a chance to go short.
NB: Price is still above 200EMA, so longer term trend is bullish
Possible Target #1: 0.900 (lower boundary of consolidation)
Possible Target #2: 0.895 (Confluence of 127% Fib extension AND minor support
I am short from 0.90715