Update 01.10.18

Starting from the Weekly chart, price has broke a Fibonacci parallel and now retesting the level. Unless it is a fake break out it is expected price to continue higher towards the 162’s – 164’s zone after the ongoing correction is completed.

In the Daily chart, we are already testing another Fibonacci parallel but price could whipsaw the level and spike lower before continue higher. Either case if the level at this stage fails next levels are coming at 149’s and then down to 148’s.

Down to the H4 time frame a little bit lower and around the 150.20’s is the 50% Fibonacci correction holding from where price could reverse. 70 pips lower the 61.8% Fibonacci correction is holding at 149.40’s another good level we could see price react against the lesser degree trend. At this stage I won’t call the next level down to 148.50’s as I am expecting more data for possible adjustment.