1M:
Long-term DN trend (since 7/2008). Key support ~1.04624. Consolidating for more than a year (since 4/2015). Current bullish price action. Expect price to test upper consolidation area. Price has been more bullish in nature YTD. A break above 1.1600 with bullish price action would indicate a potential correction. Such a correction could last a couple years or more. The long-term TL resistance/channel would be a 76.4% Fib Retrace.
1W:
Expect a test of ~1.145 resistance zone. Look for price to retrace to create a good entry point.
This is not a great entry point. Look for price to retrace, before entering long.
1W:
This is not a great entry point. Look for price to retrace, before entering long.
