Summery:
Primary Trend: Bearish (see last red dot)
Secondary Trend: Bearish (see last zigzag)
Resistance: 1,42300 (FIBO 100)
Support: 1,39200 (FIBO 161.8)
Comment: Downtrend
from primary is trying to find a support on FIBO 161.8. We see on current
bar that probably we are at the down peak of secondary trend and we may
see a correction from primary that could bring prices till FIBO 100 at 1,44000.
Suggestion:
Considering that primary trend is bearish (last red dot) for thoose who
have short positions I suggest to keep it till the formation of a new
down peak (new red dot). Otherwise stay neutral till price breaks down
FIBO 161.8 or turns back to FIBO 100 to enter short.
Good Luck!
