Contex:
This Pair gained some nice strenght by breaking the supplyline of the preceeding down move
the actual rallie is of strong nature as can be seen on the prolonged upwaves vs, the minor corrections
the current rallie brought us to an important level ie. the 50% retracement level of the previous downmove
@58700 , if this level gets taken out for good we have a defentive strong market at hands , a bearish reaction
at this level may cause a correction and its that correction and how deep it will be to judge the strenght vs. weakness caused by this reaction , interresting week ahead on this pair
signs of strenght:
broken supplyline
strong rallie
signs of weakness:
long
This Pair gained some nice strenght by breaking the supplyline of the preceeding down move
the actual rallie is of strong nature as can be seen on the prolonged upwaves vs, the minor corrections
the current rallie brought us to an important level ie. the 50% retracement level of the previous downmove
@58700 , if this level gets taken out for good we have a defentive strong market at hands , a bearish reaction
at this level may cause a correction and its that correction and how deep it will be to judge the strenght vs. weakness caused by this reaction , interresting week ahead on this pair
signs of strenght:
broken supplyline
strong rallie
signs of weakness:
long