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Corrective move in currencies hold some trend move support
After a trend-like move, the corrections help to define the breadth and support for the trend. If the 38.2% retracement of the trend run holds, that is indicative of support buyers looking to hop on. If that level and the 50% of the same move are both broken, that is generally not good for the trend move.
Looking at the 5 minute charts of some of the major pairs the 38.2% are so far holding. That keeps the buyers in control. It does not mean they will stay that way, but "so far, so go... Read More
Posted: Dec 13 2022, 16:29
Author Name: forexlive
Views: 110555