As you can see it has broke out the downtrend parallel line which likely meaning the conversion of the trend.
This short term uptrend seems to continue since it has rebounded at the Fibonacci level of 0.236 after the pull back as i circled.
However fundamentally,I doubt the start of bull trend since next week theres gonna be FRB conference to decided whether to increase the policy interest rates or not.If they dont increase I assume that it will go back to bear trend.
This short term uptrend seems to continue since it has rebounded at the Fibonacci level of 0.236 after the pull back as i circled.
However fundamentally,I doubt the start of bull trend since next week theres gonna be FRB conference to decided whether to increase the policy interest rates or not.If they dont increase I assume that it will go back to bear trend.