Ttargeting 1.30 ................ ?????
Conclusion:
Until market stands in downward channel we can’t be focus on some extended moves. Although, there are still chances exist of upward retracement on weekly chart, since market stands at support, on daily chart we have no confirmation and clear signs of that yet.
That’s why, in the beginning of the week our level to watch is pivot at 1.3350. I suspect that market could show retracement to 1.3280-1.33 area, since it has hit some intraday targets and shows “222” Sell pattern. After that the moment of truth will come – if market will return right above 1.3350, we may count on move to 1.3650. If not – then, I suppose, market will move to 1.30.
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Sive, it was written by you just several days ago. Do you believe the market can reach 1.30 area?
Thanks.