Looking at a potential Head and Shoulders pattern long term which could meet right at the resistance of the channel. At the same time it is at the 61.8 Zone of the most recent wave.
Expecting a test around @0.7808. But at the end of the day, we have a head and shoulders at the daily and the break of the neckline should see price drop further.
A bullish big shadow (It engulfed the previous large bearish candle and it is the largest candle for at least 6 previous candles.) formed on a minor support zone. The buy signal also formed on the trend line. which is also an indication that price may continue to rise. Trade with caution.
Price is currently consolidating on an important zone around 111.117. This retouch could either lead to price falling all the way to the next important support or price could head up to touch the trend line before falling to the major support zone around 110.728.
