We have had two lots of consolidation above and below the key level of significance. 1.54
Now we can see the support (daily, weekly, Fib of 1.54) propel the price up to the next key level. 1.55*
Or we could see price further retrace to 0.618 fib, approx' 1.528. Before further movement.
I am expected a LOT of consolidation this week and static behaviour prior to the fed's FOMC meeting.
When they announce they will not being raising rates we will see an interesting move on the global markets.
I will be holding gold and cash as hedges during this time.
Now we can see the support (daily, weekly, Fib of 1.54) propel the price up to the next key level. 1.55*
Or we could see price further retrace to 0.618 fib, approx' 1.528. Before further movement.
I am expected a LOT of consolidation this week and static behaviour prior to the fed's FOMC meeting.
When they announce they will not being raising rates we will see an interesting move on the global markets.
I will be holding gold and cash as hedges during this time.