Here we have a interesting conjunture, where the retrace of the last upside impulse could be interpreted as a restart of the downtrend by a good part of the traders, because of the extended previous decline, even if it ends to be just a pullback.
Our objective is the base channel in convergence with the 61.8% that will be the most common retracement if turns to be an upside impulse from the 1.2741 minimum.
The trick here is to wait to see a early candle reversal like a dark cloud cover, thats why is important to make shure the today price close below the reference in the chart.
Our objective is the base channel in convergence with the 61.8% that will be the most common retracement if turns to be an upside impulse from the 1.2741 minimum.
The trick here is to wait to see a early candle reversal like a dark cloud cover, thats why is important to make shure the today price close below the reference in the chart.