The price follows a trend channel for now..
the resistance line in the trend channel have ben hit
twice. and probably will hit it the third time.
therefore completing a trend channel cycle
(hitting 2 times support and 3 times resistance line)
If the price breaks 1.71528 we will see
the price to follow the 5 wave sequence.
which is 1.13 on fibonacci drawn from
((i)) to ((iii))
if the price fails to break the 1.71528 level
than we could see a consolidation back to
1.65318 ish
Wave ((iv)) hits 0.707
on fibonacci levels.
TP will be 1.78891
SL at 1.67206
the resistance line in the trend channel have ben hit
twice. and probably will hit it the third time.
therefore completing a trend channel cycle
(hitting 2 times support and 3 times resistance line)
If the price breaks 1.71528 we will see
the price to follow the 5 wave sequence.
which is 1.13 on fibonacci drawn from
((i)) to ((iii))
if the price fails to break the 1.71528 level
than we could see a consolidation back to
1.65318 ish
Wave ((iv)) hits 0.707
on fibonacci levels.
TP will be 1.78891
SL at 1.67206