The Weekly Candle closed bearish last week. This created the second weekly bearish close in a row denoting bearish momentum. 1.0866 Weekly S/R Zone is no longer relevant. Our Relevant weekly level's now stand as -Weekly Resistance Level : 1.1024 -Weekly Support Level : 1.06647
Our Daily Level's stand as - Daily Support Level : 1.07597 - Daily Resistance Level : 1.08739
I think it's reasonable to see some selling pressure to start off the trading for this week. Or may we at least anticipate a double bottom sort of structure and retest of our 1hr Zone 1.07802
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We have tapped into 1.07802 1Hr Zone. Manufacturing data may be a catalyst for us to create a double bottom structure and pull back up on the daily candle, thus forming a larger bottom wick of rejection