After the impetus started on June 21, it seems to have come to an end on the 30th, forming a corrective stage.
Apparently this correction came to a support where it shows us confluence, then we have a horizontal level in the 1,286 that does not serve as support, also the price seems to have reached the fibonacci 38.2% of the previous impulse, and we have...
After the strong bullish momentum of June 27 that preceded the breakdown of the bearish trend line, the price shows signs of wanting to continue with the bullish movement since it fails to fall back below the 1,554 level, being optimistic the price could possibly reach up to The 1.588, although I would recommend taking partial profits at 1,568.
Regards, if you are watching this analysis, do not comment too. Sorry for the bad syntax, English is with Google Traslator.
My trading is based on the function of economic cycles, a cycle for me, is broken down into: (I) Acumulation Phase, (II) Bullish Trend Phase, (III) Distribution Phase and (IV) a Bass Trend Phase .
In the same sense, this pair for me, is at...
Given the strong bearish movement after the UK elections and with the EMA low price of 50 we have no choice but to follow the price.
We have a breaking of a banderin with a strong bearish tendency, we only have to wait for a backward step that validates the break and give us a trigger, only at that moment to enter short.
1.259 target.
