Currently, price level made a nice rejection off 1.7935 resistance level and now we could potentially see a rejection off 23.6 fib level. To determine if a BULLISH long term retracement is possible, I will be looking out for the breakout from this strong resistance level @1.7935. If so, we could see it heading towards 61.8 fib level. However, I am leaning towards a BEARISH movement for now, I will be seeing price movement going bearish minimally to 1.7600 support level. A rejection off that level will signal a good bullish opportunity but as mentioned a breakout from the strong resistance level will be a better indicator for a BULLISH climb. As of now, I will look to trade the BEARISH movement.
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