1) Primary resistance is 200EMA
2) Secondary resistance is .618 FIB
3) Support is structure at .94
4) While we are down, the channel is broken
5) Consolidation trading plans should be considered by traders
6) HODL for the Noobs
7) Major resistance on the way up at .5 and .382 is expected.
Simple is best!
If this above 1.27 expect another 8-10 cent gain.
HI there! It is highly probable that this can go lower for the reasons you cited. I think the zone right now is .94-1.15. I have a hunch that the bulls will capitulate tonight. Since it is the big Asian holiday, most are enjoying time off, the Olympics, and will return full force next week.