Price has just broken to the downside breaking through the upwards trend-line support. After the steep fall, price has now pulled-back to the .38 fib level. Price is having a hard time going any higher as there is a major psychological level of 1.70. We can see therr are large wicks to the upside, showing large selling pressure. We should see price fall lower towards support to the -0.27 fib extension. Great trade ratio of 3.5:1
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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.