1 Month
Morning Start has formed indicating a possible down trend. This morning star has also formed while testing the Monthly Resistance level of 0.7750. This level shows to have strong resistance.
1 Week
The market has dropped back inside the trend line. proving that in fact there was a false breakout in the market. With a rejection of the 61.80 % Fib Line.
1 Hour
MA has crossed over to confirm my analysis with a rejection again on the fib line. Along side the price moving back inside my trend line. Stop loss places 15 pips above the previous swing. Take profit has been placed on the monthly support line 0.7400
Morning Start has formed indicating a possible down trend. This morning star has also formed while testing the Monthly Resistance level of 0.7750. This level shows to have strong resistance.
1 Week
The market has dropped back inside the trend line. proving that in fact there was a false breakout in the market. With a rejection of the 61.80 % Fib Line.
1 Hour
MA has crossed over to confirm my analysis with a rejection again on the fib line. Along side the price moving back inside my trend line. Stop loss places 15 pips above the previous swing. Take profit has been placed on the monthly support line 0.7400
Comment:
Stop Loss have been moved into profit at 0.75151 (22 pips)