Complete bias for this pair, this fib has played out so far from the first retracement to $1.60 - $1.70
After retracing to the 61.8% & 78.6% retracements we saw the -27 extension hit around $0.58.
We have now seen another pullback this time to the 38.2% retracement,
Solid candle closes at this level on the HTF (Weekly), I am expecting this to hold up with the help of the trendline.
What goes against this bias is the PayPal news that came out today.
I have taken a % off the table and am happy if we continue higher or reverse from here.
The target of $0.30 - $0.20 is possible with the help of the -61.8% extension and the trendline on the HTF.
After retracing to the 61.8% & 78.6% retracements we saw the -27 extension hit around $0.58.
We have now seen another pullback this time to the 38.2% retracement,
Solid candle closes at this level on the HTF (Weekly), I am expecting this to hold up with the help of the trendline.
What goes against this bias is the PayPal news that came out today.
I have taken a % off the table and am happy if we continue higher or reverse from here.
The target of $0.30 - $0.20 is possible with the help of the -61.8% extension and the trendline on the HTF.