Disliked298 pips for today ... I know this fall will continue but I'm closing my short here.
1604 + 298 = 1902 pips for this week. I think we will have a big week ahead of us, bad fundamentals and both UJ and GJ have broken their major support lines. Then for GJ I will target 192 (Fibonacci fan 61.8).
IMO this downfall will build the 4th leg down for GJ but the 5th and last leg which I'm not sure where exactly it may end, will be the longest leg which IMO will finish the downtrend for this pair. The monthly stochastics have still plenty of room to go down. Probably that last leg will touch the 175 area (Fibonacci fan 76.4) that Markam says ... what is definite is that we should have a lot of patience to reach there
This is what I see on monthly chart.
Any comments ?Ignored
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