Target reached - new buying possibility?
The break of the last valid "2" @ 2,3383 shooted the pair to its target @ 2,4045. Since this High was formed we can see a healthy consolidation. Till now this consolidation ended between the 38,2 and 0,5 fibo-retracement - exactly where the breakout level is based. Thats possibly a good basis for a new jump.
-Prices above 2,37 will trigger the triangle/flag This will generate a target on the upside @ TP1 2,4045 and above that level TP2 @ 2,47.
-Prices below the breakoutllevel @ 2,3383 the midterm trend chanel is hurt. That generates the risk that the price can drop to 2,26.
Former analysis:
If the pair can trade above the "2", the buyingsignal is active. TP= have a look @ the chart
-Prices above 2,37 will trigger the triangle/flag This will generate a target on the upside @ TP1 2,4045 and above that level TP2 @ 2,47.
-Prices below the breakoutllevel @ 2,3383 the midterm trend chanel is hurt. That generates the risk that the price can drop to 2,26.
Former analysis:
