Following our 2-hour time-frame analysis published earlier...
...For the weekly analysis of ADAUSD we're using fibs.
See how the 0.236 fib level is very close to a strong horizontal resistance level (shown in red) at 35 cents.
That's a 170% gain from current price and there's barely any resistance in the chart to get there.
RSI is overbought however... so traders can expect a quick pullback. 11% down to the current new support level (shown in blue) to re-set RSI.
Then it's off to the races, with a 1000% target to reach back up to the previous All Time High.
...For the weekly analysis of ADAUSD we're using fibs.
See how the 0.236 fib level is very close to a strong horizontal resistance level (shown in red) at 35 cents.
That's a 170% gain from current price and there's barely any resistance in the chart to get there.
RSI is overbought however... so traders can expect a quick pullback. 11% down to the current new support level (shown in blue) to re-set RSI.
Then it's off to the races, with a 1000% target to reach back up to the previous All Time High.
