monthly: on the monthly timeframe there is a VERY bearish candle, after some sort of tweezer top (i'd say a hanging man after a hammer rathern than tweezer top) a bearish continuation candle, a shooting star and this month's candle is
currently a marobozu straight forward. Price is heading downwards in a channel, very strong momentum thanks to dollar weakness. In order for price to break structure i'd have to close below the 113.500 level and then we can hop on the
retest of the level and targets would be at weekly support 110.300 and 2nd target would be at 107.000 monthly support. Ma´s are heading downwards sharply
weekly: As in the monthly, we have some sort of tweezer top with some crazy bearish momentum. Price has made 5 consecutive bearish candles atm, and the last one is a marobozu. Price couldnt break upper trendline but it could break the lower "channel" trendline
price is directly headed to the monthly support 113.500 and maybe more. Ma's have crossed to the downside and are pointing straight 90° to the downside. I think we could see old highs being retested and maybe broken, but that would be the most crazy scenario
although price is heading directly downwards, there could be a pullback right here to the weekly resistance before the big drop, markets move to where big players want to move, not to where i say they'll move.
daily: Price has made waay too much bearish candles in a row, and the movement seems to continue really hard. Now that've drown a fib, it seems like price will reach the monthly support buy it MAY pull back in the -61.8%.
I'd only take short trades in this pair. Also price has closed below a longer time trendline , wich may cause a pullback to the 116.200 level before the continuation lower. So then, IF price retraces back you should think of selling in the
116.200- (-27%) fib level. If price keeps coming down and retraces on the -61,8% level you should look to sell in the retest of the trendline as resistance this time. Remember that in anyway, we are looking for price to reach the monthly
support level and even lower due to the momentum, so you should only look for sell trades unless a you get proven signals of a reversal.
currently a marobozu straight forward. Price is heading downwards in a channel, very strong momentum thanks to dollar weakness. In order for price to break structure i'd have to close below the 113.500 level and then we can hop on the
retest of the level and targets would be at weekly support 110.300 and 2nd target would be at 107.000 monthly support. Ma´s are heading downwards sharply
weekly: As in the monthly, we have some sort of tweezer top with some crazy bearish momentum. Price has made 5 consecutive bearish candles atm, and the last one is a marobozu. Price couldnt break upper trendline but it could break the lower "channel" trendline
price is directly headed to the monthly support 113.500 and maybe more. Ma's have crossed to the downside and are pointing straight 90° to the downside. I think we could see old highs being retested and maybe broken, but that would be the most crazy scenario
although price is heading directly downwards, there could be a pullback right here to the weekly resistance before the big drop, markets move to where big players want to move, not to where i say they'll move.
daily: Price has made waay too much bearish candles in a row, and the movement seems to continue really hard. Now that've drown a fib, it seems like price will reach the monthly support buy it MAY pull back in the -61.8%.
I'd only take short trades in this pair. Also price has closed below a longer time trendline , wich may cause a pullback to the 116.200 level before the continuation lower. So then, IF price retraces back you should think of selling in the
116.200- (-27%) fib level. If price keeps coming down and retraces on the -61,8% level you should look to sell in the retest of the trendline as resistance this time. Remember that in anyway, we are looking for price to reach the monthly
support level and even lower due to the momentum, so you should only look for sell trades unless a you get proven signals of a reversal.
