Price breaking out of WEEKLY consolidation and headed down to 1.75000. Daily chart shows a clear contracting triangle that has already started moving from point E, forming leg AB(clearly visible on 4HR).
4HR got resistance at Fib level 61.8 creating point C and as we all know the golden ratio, price is most likely to find support at 161.8 with point D, thus completing the pattern ABCD.
4HR got resistance at Fib level 61.8 creating point C and as we all know the golden ratio, price is most likely to find support at 161.8 with point D, thus completing the pattern ABCD.