#USDCLP: Bulls Legitimate, Increased Enthusiasm Next Week!
Traders,
After a bearish move after the bullish impulse leg, there was a very nice derivative morning star signal at the Fibonacci retracement, where the pair will probably break to the upside out of the corrective structure. The move will probably be a 3 wave cyclic move to the highs, expecting a measure move of the impulse leg into the highs of the range. Target is actually at the historical resistance, which means we have a target that makes geometrical sense.
After a bearish move after the bullish impulse leg, there was a very nice derivative morning star signal at the Fibonacci retracement, where the pair will probably break to the upside out of the corrective structure. The move will probably be a 3 wave cyclic move to the highs, expecting a measure move of the impulse leg into the highs of the range. Target is actually at the historical resistance, which means we have a target that makes geometrical sense.
Related publications
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.