Hello everyone,
The pair is trading around a very critical support levels:
1- On the daily chart (left picture): on the verge of breaking the 50 SMA for the first time since May.
2- Tested the uptrend line from below which is a typical bearish behavior upon breakout.
3- On the 4H chart (right picture): Broke below 200 and 240 SMA for the first time since May.
4- Getting close to breaking the uptrend support line that's been holding since August.
Watch out for the above levels, do not trade before a confirmation of breakout and be aware of false breakouts.
Good luck, have a nice trading week.
The pair is trading around a very critical support levels:
1- On the daily chart (left picture): on the verge of breaking the 50 SMA for the first time since May.
2- Tested the uptrend line from below which is a typical bearish behavior upon breakout.
3- On the 4H chart (right picture): Broke below 200 and 240 SMA for the first time since May.
4- Getting close to breaking the uptrend support line that's been holding since August.
Watch out for the above levels, do not trade before a confirmation of breakout and be aware of false breakouts.
Good luck, have a nice trading week.
Ramzi Abou Abdallah, CFTe, CMT
♦️ Subscribe to my telegram channel for daily signals for free, link below:
♦️ t.me/accu_trading
♦️ Subscribe to my telegram channel for daily signals for free, link below:
♦️ t.me/accu_trading