Correction After Triangle Breakout
The price had been moving into a triangle pattern upward to the resistance zone.
As you can see the price broke out from the support trendline and showing a downtrend which now has retraced back to the Baseline (Kijun-sen: cyan color).
It might the first signal to go " SHORT "
Fibo Extension drew from 1.56742 > 1.54284 then up to 1.56414
As a result, the potential downward trend toward Fib 1.0 @ 1.53970 in the short term.
Additionally, the key support zone between Fib 1.5 (1.52717) and Fib 1.6 (1.52423) has not yet been tested the third time.
........Maybe it won't LOL ...... Please take a look at the Weekly Timeframe for reference. it might form a consolidation before a continuous downtrend resume. PEACE
As you can see the price broke out from the support trendline and showing a downtrend which now has retraced back to the Baseline (Kijun-sen: cyan color).
It might the first signal to go " SHORT "
Fibo Extension drew from 1.56742 > 1.54284 then up to 1.56414
As a result, the potential downward trend toward Fib 1.0 @ 1.53970 in the short term.
Additionally, the key support zone between Fib 1.5 (1.52717) and Fib 1.6 (1.52423) has not yet been tested the third time.
........Maybe it won't LOL ...... Please take a look at the Weekly Timeframe for reference. it might form a consolidation before a continuous downtrend resume. PEACE
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