From a 4-hour perspective, the bulls had met support and here were prospects for an upside continuation and a higher probability set up above the resistance.
The conviction was illustrated from a daily perspective as follows
With price having made a low within the vicinity of a 38.2% Fibonacci retracement, while there are still prospects of a fuller test of the level, the bias remains bullish.
Sights can be set on an hourly target of a -272% Fibo of the presumed 38.2% correction at 0.6933:
1-hour chart
The conviction was illustrated from a daily perspective as follows
With price having made a low within the vicinity of a 38.2% Fibonacci retracement, while there are still prospects of a fuller test of the level, the bias remains bullish.
Sights can be set on an hourly target of a -272% Fibo of the presumed 38.2% correction at 0.6933:
1-hour chart
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Disclaimer
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.