Long-term move back to 0.18 eventually
Now expecting some retest of 0.25 then seeing it dropping again, considering 0.22 as next safe take profit target area.
n the weekly we can see that even if supply was absorbed around 0.18 when it touched it in June'21 it was so heavy that I expect more test back to the zone.
On the daily we can clearly see how price failed to break upside the 0.25 area with decreasing of demand ever since last June
Then on the 4 hours how It made a LL under 0.256 with absorption of pumped up demand at the retest of the level for after printing a bearish engulfing breaking under the 0.25 zone
Now expecting retouch of the 0.25 and see it drop further more with 0.22 as next target
Now expecting some retest of 0.25 then seeing it dropping again, considering 0.22 as next safe take profit target area.
n the weekly we can see that even if supply was absorbed around 0.18 when it touched it in June'21 it was so heavy that I expect more test back to the zone.
On the daily we can clearly see how price failed to break upside the 0.25 area with decreasing of demand ever since last June
Then on the 4 hours how It made a LL under 0.256 with absorption of pumped up demand at the retest of the level for after printing a bearish engulfing breaking under the 0.25 zone
Now expecting retouch of the 0.25 and see it drop further more with 0.22 as next target