2017-05-14
Price action is in a down trend, D1 confirms this short term direction. The pull back came close to a 61.8 retracement and has now reversed to continue the trend down. Fib Future D is at 1.04106 just above the outer up-trend line which forms from the D1 longer term up-trend. RSI is closing on over sold so a short term sell to 1.06107 would be my next trade. Alo note the recent price action at 1.08000 looks like a triple top, further confirming a likely strong bearish move.
Price action is in a down trend, D1 confirms this short term direction. The pull back came close to a 61.8 retracement and has now reversed to continue the trend down. Fib Future D is at 1.04106 just above the outer up-trend line which forms from the D1 longer term up-trend. RSI is closing on over sold so a short term sell to 1.06107 would be my next trade. Alo note the recent price action at 1.08000 looks like a triple top, further confirming a likely strong bearish move.