Daily:
Down trend, target price ~5.80 (5.90). The pair is in the channel after descending, no bullish signs from higher TF.
H4:
After fast descending from the 9.00 the price stopped at local support (~7.9). Usually after fast movement the price need some time for the rest, new traders will come in. Everyone see the levels, everyone is putting their stops and market orders in one place. Therefore it is quite usual, when the price will breakthrough res|sup with further backward moving...
As of today, we have to wait short signals (bearish patterns) of the cahrt to go deeper. Meanwhile we may start* to sell close to ~8.0, with SL above and increase our short at 7.73, 7.50
*Do not expect from the market that it will go as you plan, be in focus on real situation here and now. Manage risks and turn-off emotions.
Down trend, target price ~5.80 (5.90). The pair is in the channel after descending, no bullish signs from higher TF.
H4:
After fast descending from the 9.00 the price stopped at local support (~7.9). Usually after fast movement the price need some time for the rest, new traders will come in. Everyone see the levels, everyone is putting their stops and market orders in one place. Therefore it is quite usual, when the price will breakthrough res|sup with further backward moving...
As of today, we have to wait short signals (bearish patterns) of the cahrt to go deeper. Meanwhile we may start* to sell close to ~8.0, with SL above and increase our short at 7.73, 7.50
*Do not expect from the market that it will go as you plan, be in focus on real situation here and now. Manage risks and turn-off emotions.