#USDCLP: Bulls Legitimate, Increased Enthusiasm Next Week!
Traders,
After a bearish move after the bullish impulse leg, there was a very nice derivative morning star signal at the Fibonacci retracement, where the pair will probably break to the upside out of the corrective structure. The move will probably be a 3 wave cyclic move to the highs, expecting a measure move of the impulse leg into the highs of the range. Target is actually at the historical resistance, which means we have a target that makes geometrical sense.
After a bearish move after the bullish impulse leg, there was a very nice derivative morning star signal at the Fibonacci retracement, where the pair will probably break to the upside out of the corrective structure. The move will probably be a 3 wave cyclic move to the highs, expecting a measure move of the impulse leg into the highs of the range. Target is actually at the historical resistance, which means we have a target that makes geometrical sense.
