We may derive the following from the Weekly CFR chart:
1. Price finally reached target after 9 months (see linked idea).
2. At present, having reached a major monthly support (purple line) it would appear that some profit taking is happening.
3. Price is now testing the latest resistance. Wait for a reversal for further downside.
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
1. Price finally reached target after 9 months (see linked idea).
2. At present, having reached a major monthly support (purple line) it would appear that some profit taking is happening.
3. Price is now testing the latest resistance. Wait for a reversal for further downside.
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
