EU has been in consolidation for quite some time, staying between two specific support/resistance zones. Recently, it started creating higher lows and eventually higher highs. I utilized the fibonacci retracement tool from the swing high to the swing low plus the fibonacci extension tool and found out that the market is hitting the 127 level consistently when...
GU is having downtrend overall and a bit of an accelerated downtrend on the weekly. It can certainly break the current trend line and continue up to the overall trend line but if it does get rejected, it's already retraced from the 50% line and fell to the 127 extension level. We can perhaps see a rise to the 78.6 which is still a substantial level and continue...
There's an overall trend on the weekly that was bearish but it was broken and reversed which comes to the latest trend line I have. It reaches an incredible high point (not the highest ever) and immediately drops after the first touch. It breaks the trend line and wicks it then continues dropping. When using the fib retracement, that small wick on the trend line...
