Hi,
In the chart you will find arrows with a potential pathway for this pair.
Strong resistances are depicted in red thick lines.
Monthly channel is drawn in blue lines.
Overall: short, trade time up to 4 weeks.
Detailed: I think we will see retracement to Fibonacci 0.6 *SEVERAL DAYS*. Finally price will touch 0.5 and later 0.3 Fibonacci. Probably in 0.3 Fib we will see a strong rebound, depends on how VIX fear index well develop. Otherwise, I'm expecting price will touch the low blue monthly channel before rebounding very strong.
If after touching the low line in the channel it suggest it will break down further *BEWARE*, I really think it will rebound strongly. Always watch price actions. Buy low, sell high ;)
Regards.
In the chart you will find arrows with a potential pathway for this pair.
Strong resistances are depicted in red thick lines.
Monthly channel is drawn in blue lines.
Overall: short, trade time up to 4 weeks.
Detailed: I think we will see retracement to Fibonacci 0.6 *SEVERAL DAYS*. Finally price will touch 0.5 and later 0.3 Fibonacci. Probably in 0.3 Fib we will see a strong rebound, depends on how VIX fear index well develop. Otherwise, I'm expecting price will touch the low blue monthly channel before rebounding very strong.
If after touching the low line in the channel it suggest it will break down further *BEWARE*, I really think it will rebound strongly. Always watch price actions. Buy low, sell high ;)
Regards.