Summery:
Primary Trend: Bullish (see down peak red dot)
Secondary Trend: Bearish (see last zigzag)
Resistance: 0,99400 (FIBO 100)
Support: 0,97500 (FIBO 161.8)
Comment: a downtrend started on secondary trend since previous post (2 bars ago) and the price came out from the overbought zone pointing directly to FIBO 161.8 level after a breakdown of FIBO 100.
Suggestion: On next closing bar if price doesn't breakdown support level it could be a good entry for a long position otherwise will be a strong short opportunity continuing downtrend with a take profit on FIBO 261.8. With a breakdown of support level we may also see an entry inside the Oversold zone.
Good Luck!
