- November 3, 2020
- Posted by: Tradingshot Articles
- Category: Forex
Scary as it may seem, the price action on the recent consolidation, along with the MACD, have formed on the 4H chart a pattern much similar with the April-May sequence that led to the collapse of June and July. The first low before the recent Bottom was made on the 2.618 Fibonacci extension, as seen on the chart. If we apply the same parameters, we get 89.500 as the next target.
Are you betting on a USD sharp sell-off after the U.S. elections?
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