Based on the wedge we have here, I see UC rising to the 50% and most likely 61.8% Fibonacci lines. As always, the pairs retrace back down. It's a catch 22 here. It could continue rising after hitting 61.8% or it could retrace back down and keep going toward 38.2%.
Either way, we will be going upwards close to 1.35000 and as fibs show, 1.35714 is our 50% line. The fibs are drawn based on the previous downtrend. Do I expect extension? Most likely. We'll see what the DXY has in store for us given it is headed for a crash landing.
Either way, we will be going upwards close to 1.35000 and as fibs show, 1.35714 is our 50% line. The fibs are drawn based on the previous downtrend. Do I expect extension? Most likely. We'll see what the DXY has in store for us given it is headed for a crash landing.