The rebound ended 194,36. After this high was made a consolidation started and is now forming a bullish flag (with tp @ 200). To date the consolidation ended exactly @ its fibo 38,2 - the minimal correction level. The consolidation seems to be healthy at the moment. The bullish scenario is still intact.
Prices below 189-189,5 weaken the bullish szenario - a dip to its low @ 184,9 should be planned.
Prices above its green and yellow "2" generate long signals.
former analysis:
The pair is starting a Rebound @ ist shortterm 0,5 fibo retracement @ 185.36.
Have a look @ the supporting Levels EMA & SMA 200. Trading below these moving averages generates a possible target @ 176,3 (former supporting lows).
If this Level also can not be defended, the longterm trend will be hurt and a drop to the longterm fibo Minimum correction level @ 167,3 appears. Worts case target 0,5/0,618 % fibos @ 158,46/149,68
Trading above 189.5/189.75 will reanimate the bullish Setup.
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Prices below 189-189,5 weaken the bullish szenario - a dip to its low @ 184,9 should be planned.
Prices above its green and yellow "2" generate long signals.
former analysis:
Have a look @ the supporting Levels EMA & SMA 200. Trading below these moving averages generates a possible target @ 176,3 (former supporting lows).
If this Level also can not be defended, the longterm trend will be hurt and a drop to the longterm fibo Minimum correction level @ 167,3 appears. Worts case target 0,5/0,618 % fibos @ 158,46/149,68
Trading above 189.5/189.75 will reanimate the bullish Setup.
If you like my analysis and find it useful, please take a second and hit the LIKE button and follow me. It takes some time to create these posts and your LIKES let me know it is helpful to you. As always, any comments are welcome. Agree or disagree.
