Saudiarabia
A CALL FROM THE SUPPORT TO SEE WHAT TO DO NEXTNormally we should try to spot a buy position, now the market will be in a corrective wave and might go to test the green trend line below with a high probability, we saw the same respect toward the red trend line which is a clear rejection and the market want to go back,
THE GREEN TREND LINE CAN ACT AS A MAGNET!
PREPARE TO SELL YOU SHARE THE MARKET MIGH GO TO 74.54We have a strong indications that the market will go down :
1.The 3 recent candles are all in gravestone profile, the market can't break the VWAP indicator, the VWAP act as a strong resistance,
2.The Fibonacci give us the level of 75% as a strong resistance too,
3.The respect of the red trend line and the market need to go back to the channel,
Summary:
The market needs to go back the the level of 61§ of the Fibonacci retracement, and then we may have a good buy configuration, with all the past indications it's very hard to tell that the market will go up furthermore,
WE ARE IN A LEVEL OF STAND BY POSITION, WAIT FOR THE NEXT VOLUMEPlease share with me your thoughts,
wait for the right moment to decide wisely,
Kind regards
SAUDI ARABIAN RIYAL_BRITTISH POUND|ANALYSIS
SAR_GBP IS TRADING ALONG THE DIAGONAL SUPPORT. ANOTHER BULLISH PUSH IS EXPECTED
(1) Horizontal and diagonal support put the pair on strong footing
(2) The push upwards is expected to the resistance lines shown
(3) The push might be followed by support retests
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