Hello friends!
I am short on time today, so this will be a short update.
As discussed and forecast in yesterday's video, in the 3H the Bollinger Bands expanded as the LSMA crossed below level 50, allowing prices to drop below 1.50.
The 6H chart today has the potential for a similar crossover that could lead to lower prices.
The region around 1.50 may have enough support to keep prices from falling further, but the daily chart shows the green EMA crossing below RSI and LSMA, well below the white EMA. If this persists throughout the day, lower lows can be expected with prices moving from the lower white B-band (1.49) towards the lower aqua B-band (1.42).
Looking at the 2D and 3D, white EMA crossing above level 50 is likely to be delayed, but perhaps not more than 1-2 candles. Thus, a chance for a rally late in the week or this weekend is still in play.
Today candles will close in the 2D, 3D, 4D, and 6D. Thus, tomorrow we will have much more information on where prices may be heading the near to mid-term.
Good luck and good fortune!
I am short on time today, so this will be a short update.
As discussed and forecast in yesterday's video, in the 3H the Bollinger Bands expanded as the LSMA crossed below level 50, allowing prices to drop below 1.50.
The 6H chart today has the potential for a similar crossover that could lead to lower prices.
The region around 1.50 may have enough support to keep prices from falling further, but the daily chart shows the green EMA crossing below RSI and LSMA, well below the white EMA. If this persists throughout the day, lower lows can be expected with prices moving from the lower white B-band (1.49) towards the lower aqua B-band (1.42).
Looking at the 2D and 3D, white EMA crossing above level 50 is likely to be delayed, but perhaps not more than 1-2 candles. Thus, a chance for a rally late in the week or this weekend is still in play.
Today candles will close in the 2D, 3D, 4D, and 6D. Thus, tomorrow we will have much more information on where prices may be heading the near to mid-term.
Good luck and good fortune!