After breaking out of the descending triangle as I pointed out in the last idea, prices should now climb back to the ~134.500 area to "test" the previous intermediate demand zone.
Should the zone still be imbalanced another push to the downside is likely.
This level coincides with the 0.50/0.618 of the previous down move and should head to ~132.500 if not lower.
Expect a rally anywhere near ~131.000.
R/R is dependent on how the prices go into the 134.500 zone
Should the zone still be imbalanced another push to the downside is likely.
This level coincides with the 0.50/0.618 of the previous down move and should head to ~132.500 if not lower.
Expect a rally anywhere near ~131.000.
R/R is dependent on how the prices go into the 134.500 zone
