The combination jumps from the bearish trendline down.
A continuation of the downward movement down to the next support at 1.07096 is likely expected.
Caution: A possible change in the direction of the resistance zone at 1.07421 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 1.07143 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support level at 1.07421 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Support & Resistance | Price Range* |
---|---|
3rd High | 1.08160 |
2nd High | 1.07611 |
Next High | 1.07421 |
Current Price | 1.07282 |
Next Low | 1.07096 |
2nd Low | 1.06860 |
3rd Low | 1.06675 |