Monthly: The month of July closed bearish
Weekly: Last weeks candlestick closed as a shooting star below the weekly resistance of 0.738
Daily: Price could not close above the 0.5 fib level. Price also formed an evening star and a bearish engulfing candlestick which engulfed 6 days of price action. The 0.738 level is holding firm as a strong barrier of resistance
4 hour: EMAS crossed back over
I am bearish on this pair expecting price to first go to the 0.723 level, if this level is broken then 0.716 is the second region of interest
Weekly: Last weeks candlestick closed as a shooting star below the weekly resistance of 0.738
Daily: Price could not close above the 0.5 fib level. Price also formed an evening star and a bearish engulfing candlestick which engulfed 6 days of price action. The 0.738 level is holding firm as a strong barrier of resistance
4 hour: EMAS crossed back over
I am bearish on this pair expecting price to first go to the 0.723 level, if this level is broken then 0.716 is the second region of interest
Comment:
I am awaiting a break of the CTL first before looking for entries to the downside