Monthly Outlook for August
I quickly drew my projected lines and these are the levels according to what could come next..
I quickly drew my projected lines and these are the levels according to what could come next..
- The hesitation could imply that bullish banks and institutions still want to retest previous highs..
- If it drops further, the bottom could be limited with 1.17135 for 1st round..
- In following weeks I suspect bullish attempts to retest 1.1818 and above up until 1.20 (roughly) because a touch to 1.2038 could change the direction of trend.. That's what bears wouldn't like to see..
- If 1.1713 area breaks we could have a faster run all the way down to 1.1590 but again: these things generally don't happen before a retest towards the breakout line..
- That all being said: Intraday wise, as long as 1.1818 resists, it is wiser to stay bearish and to keep selling pullbacks..
I hope it helps
*Remember: This is the monthly chart.. It could take years until price arrives at point D
Be a seer, not a looker!
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