This pair is bouncing from a strong resistance area visible at W1 chart.
We can see a bearish shark already completed. The price reacted well to the PRZ forming an engulfing bearish candle.
Some other confluence reasons.
- bouncing on D1 EMA 200
- long term trendline support
- long term horizontal resistance
- round level 1.35000 near the PRZ
- double bollinger correction (not shown)
- engulfing bearish candle
- bearish shark
Best regards
We can see a bearish shark already completed. The price reacted well to the PRZ forming an engulfing bearish candle.
Some other confluence reasons.
- bouncing on D1 EMA 200
- long term trendline support
- long term horizontal resistance
- round level 1.35000 near the PRZ
- double bollinger correction (not shown)
- engulfing bearish candle
- bearish shark
Best regards