Price peaked at longterm down fib before starting to slide back down on Higher volume
Scenario 1: Test and bounce off of ema (BLUE) for a final retest of 1.9600 and then we can
expect a swift retracement down to 61% and we can see the price touching 1.9375 by end of Feb completing a 5 wave pattern
Scenario 2: straight meltdown to 61% fib, retest of 1.9500 and...
Currently Trading in a 4H channel
We can expect a brief test of 1.3200 level before reversing back to test the 1.3250 level and then resuming the downtrend to 1.3150 and eventually hitting 1.3100 in early March.
Feb 16: Hammer formation on weekly suggesting bullish first half of the week.
Massive bullish engulfing daily closure on Thursday and Friday closure shows bullish continuation
4H throwing wicks to the upside with last 4H closing as shooting star.
Possible retest of 4H Support at 1.9377 area (61.8% retracement of 4H fib) before...
