ADAUSD due for a retrace for the next week or 2.

We made it to our target to test 0.17 - 0.20 from our previous post. Now we are testing it but things might have came up too hot and might need to retrace from here and accumulate before going higher. Taking a look at daily, we might have support at 0.5 fib of this run up, if not then near bottom of ascending wedge within blue trendline.

Commentaire:

A flash crash seemed to have pushed prices all the way down near our targetted support. I expect a bounce to test 0.14 - 0.15$ as resistance where we should make equillibrium at our 1 hourly EMA.