I expect the pair to test 50% Fibonacci retracement before rebound.
Fundamentals: good figures from China at the end of the week coupled with questionable perspective for oil should support this view.
A narrower gap with Tenkan-sen and Chinkou-span not staying in the Kumo, or better crossing over historic price action would also give some confirmation.
Fundamentals: good figures from China at the end of the week coupled with questionable perspective for oil should support this view.
A narrower gap with Tenkan-sen and Chinkou-span not staying in the Kumo, or better crossing over historic price action would also give some confirmation.
Note
P.S. Look at the daily cup-and-handle pattern in formation.Note
Bollinger bands weekly charts confirm the bullish view as price actoin staying well above the SMA20.Thick red S/R line is the main challenge for the next weeks to come.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.