Simple's Green Room

[Qui-Gon Kagi]

pennies and stkjunky......fundamentals aside, E/A is just under the weekly 38.2 fib level so I'm thinking that with the previous weekly high support being 1500 pips below current price, there's plenty of room for a pullback here even though there's thousands of pips between the 38.2 and the 76 or 88 fib levels on the weekly chart following any pullback that occurs whether near this 38.2 level or the 50% fib level 1500 pips above current price. Lots of opportunities on both sides of this weekly fib level.

Another thing to mention is the weekly horizontal line of support which was broken in the 1.54/1.55 price range. We are 655 approximate pips below that major weekly line of present resistance. Just something to consider.