Summery:
Primary Trend: Bearish (LAST LOW RED DOT IS NOT YET CONFIRMED)
Secondary Trend: Bearish (see last zigzag)
Resistance: 0,84075 (FIBO 100)
Support: 0,81228 (FIBO 161.8)
Comment: We
see on last bar a low red dot . is a down peak not yet confirmed. we
may attend 2 bars without touching this last minimum. Actual price is right on Support Level FIBO 161.8 inside an Oversold zone.
Suggestion:
If you have entered short before is possible to close the position in closing bar if price doesn't breakdown Support Level. Otherwise we may see new minimums with the possibility to see a downtrend to next support on FIBO 261.8.
For those who want to enter the market I suggest to wait this closing bar to see if price will break down Support FIBO 161.8. If not is possible on new bars the beginning of a new bullish trend that can probably bring price easily to FIBO 100.
Good Luck!
