Monthly
Spinning top last month after a huge bullish run since January 2016. This is the first time we've seen signals of price slowing down on this pair. Reactions off this key level of 1.9250.
Weekly
Last week's candle closed as a solid shooting star - price attempted to breach 1.9250 but failed to do so. The MAs on both the monthly and weekly are behind due to so much bullish strength over the last few months.
Daily
A clear evening star formation on the daily chart during the early days of last week. A strong reversal signed coupled with the slowing momentum on the larger time frames. Price attempted to breach the weekly area again but failed forming another shooting star.
H4
Lower highs and lower lows forming on the H4 TF. We saw a clear rejection off the 61.8% fib level in confluence with the weekly area of resistance. Price has since been consolidating and has now broken out CTL with a MA crossover to the downside.
Spinning top last month after a huge bullish run since January 2016. This is the first time we've seen signals of price slowing down on this pair. Reactions off this key level of 1.9250.
Weekly
Last week's candle closed as a solid shooting star - price attempted to breach 1.9250 but failed to do so. The MAs on both the monthly and weekly are behind due to so much bullish strength over the last few months.
Daily
A clear evening star formation on the daily chart during the early days of last week. A strong reversal signed coupled with the slowing momentum on the larger time frames. Price attempted to breach the weekly area again but failed forming another shooting star.
H4
Lower highs and lower lows forming on the H4 TF. We saw a clear rejection off the 61.8% fib level in confluence with the weekly area of resistance. Price has since been consolidating and has now broken out CTL with a MA crossover to the downside.
Trade closed: stop reached