If the downward movement continues, a breakout of this support to the 61.8% fib is a possibility,
or even go further from here.
If a retraction arise, from this Support where we are, or from below (acting as a false breakout of this support), we will look for the last lower lows from structure, around 1.108 or 1.122, however, the 61.8% fib extension from the eventual leg that is now being created to 1.088 (if we get there), points to a double top around 1.122 area.
or even go further from here.
If a retraction arise, from this Support where we are, or from below (acting as a false breakout of this support), we will look for the last lower lows from structure, around 1.108 or 1.122, however, the 61.8% fib extension from the eventual leg that is now being created to 1.088 (if we get there), points to a double top around 1.122 area.
I am a financial market analyst based in Porto, Portugal. I provide market forecasts to a group of professional traders, playing a crucial role in assisting them in making well-informed decisions in the financial markets.
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.
I am a financial market analyst based in Porto, Portugal. I provide market forecasts to a group of professional traders, playing a crucial role in assisting them in making well-informed decisions in the financial markets.
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.