Using fibonacci placements, I noticed how there were matches in resistance lines. Right now the pair is touching a resistance line, but I think it may be an
upward trend if it breaks the second resistance line. If it bounces off the second resistance line, I predict it'll continue to go down.
So it seems that it's a sell for today because it was rejected by the resistance line. Since it managed to break through the resistance line twice, it's possible it could be a BUY in the following weeks. As of now, if you're a day trader, it's a SELL
The buyers broke through the downward trend. If they manage to break through the first resistance line, then it's safe to say that the second line will be surpassed as well and a bullish trend will take place. My assumption is that it will continue until it hits the dotted line. Let me know what you think!
Based on the downwards trend line, if the current price breaks the dotted line, there's a chance it could break through the downwards trend line possibly leading to a bullish trend. However if it doesn't break the dotted line, then there's a chance that it will continue to travel downwards. I'm an intermediate at this so feel free to give your input!
the chart shows that it decreased over time and then fell between the two resistance lines I drew out. If it follows the pattern, then the market could go upward. This is merely a prediction and not a sure-fire fact. Let me know what you think
