Even though there is a down AB Boundary on the Weekly chart, price is retracing inside the Down AB Boundary. The Direction of Highest Probability is Bullish. Next resistance is at 1.3000 which is a Psychological level from a historical perspective. The Daily Fibs are in an UP ABCD swing suggesting that price could move +500 pips higher to the Fibonacci D extension at 1.3148. I am looking for buy trades only and I shall look for buying opportunities at low prices.
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