has formed a really interesting setup since yesterday. After recovering, it has started to form a double bottom
reversal. Coupled with the bullish
exit of our descending resistance-turned-support line, this gives us a nicely setup double bottom
reversal. Our 1st support remains at 0.7891 ( Fibonacci retracement
, horizontal overlap support) where a strong rally could occur. Our first level of resistance is at 0.7944 ( Fibonacci retracement
, horizontal swing high resistance, double bottom
exit potential) and our next major level of resistance is at 0.7977 ( Fibonacci retracement
, horizontal breakout level).
(34) has made a bullish
exit of our long term descending resistance-turned-support line signaling that a bullish
exit could be expected.
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