This market has found solid support on the .618 level which co-incides with a medium term trend line. A higher peak/trough would confirm and entry above the counter-trend line in yellow.
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Not if it takes out 0.00010607. Then market bearish.
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1607 has been hit therefore market is showing signs of a bigger pull back. This could however turn into a double bottom if 19616 is moved through... we will need to wait and see