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The prices ascent from the August 2012 lows (from which he started a new cycle of about 2 years and 2 months) reached 1.5587 area, without indecision (1 cycle being long term bullish).
However, we can see on the chart, that area 1.5470 (61.8% retracement from the highs to 1.7505) was fully recognized, favoring a return of prices to 1.5100.
Now, being almost completed the first cycle bullish and with the presence of "negative divergence" of the MACD, to 1.5587 area is a short bearish phase that i…
However, we can see on the chart, that area 1.5470 (61.8% retracement from the highs to 1.7505) was fully recognized, favoring a return of prices to 1.5100.
Now, being almost completed the first cycle bullish and with the presence of "negative divergence" of the MACD, to 1.5587 area is a short bearish phase that i…