In a earlier publish/video, I spoke to the 200 hour transferring common and the 50% midpoint of the September buying and selling vary close to the 0.6415 stage as a key draw back goal that may have to be damaged to extend the bearish bias.
It was not damaged. In truth they value bounced off the stage and rapidly transfer again above the 100 hour transferring common at the moment at 0.6433 (blue line).
The excessive value reached 0.64446 earlier than rotating again all the way down to retest the 100 hour transferring common.
What now?
Support buyers are attempting to hold help towards the 100 hour transferring common. If profitable, the upside will be additional explored with the 0.6453 – 0.64607 as a subsequent upside goal.
Conversely if the 100 hour transferring common and 38.2% retracement at 0.64287 is damaged, bias shifts again in favor of the sellers
