I believe this pair will head lower for a number of reasons:
1) Weekly time frame has shown 3 weeks bearish price action.
2) Price has formed a double top with multiple rejections against key area of resistance around 0.90420 level.
3) EMA/MA crossover.
4) Break through mid range zone which has retested as resistance.
5) Price forming lower highs and lows on daily chart.
6) Break of trend line with retest and rejection forming shooting star candle.
1) Weekly time frame has shown 3 weeks bearish price action.
2) Price has formed a double top with multiple rejections against key area of resistance around 0.90420 level.
3) EMA/MA crossover.
4) Break through mid range zone which has retested as resistance.
5) Price forming lower highs and lows on daily chart.
6) Break of trend line with retest and rejection forming shooting star candle.
Comment:
Currently sitting around 100 pips profit.
- Daily candle is looking good to close as a bearish engufling - let's wait and see.