I see a lot of selling at resistance, and after the recent moves and failing to reach a new and higher box of prices, i see a downside test, probably to the mid point of the big trust bar.
Comments
Ryan_Tyler
⋅
With the current bullish action I expect this pair to go above 1.3450 before going down again. May be even higher
steveoliveira
⋅
We are breaking a very strong resistance zone... The last area is 1.34/1.3415, but this changes the view as the pair was able to clear all the previous pivots. Looking at the market profile chart, for the last 30 periods of 60 minutes, i get a point of rotation at 1.3280, vale area high at 1.3320. So we can be on the way to a new higher rotation area. Next area was 1.40/1.45.
exploration
⋅
Last week a hanging man candle on the weekly chart. Buyers I think went into a overbought state not seeing there is a sell off signal at the end of the week last week...helps me to think anyway.
a17nphotography
⋅
Yes I agree with your chart, that level will provide support by price action, a clear break on that level may push this pair lower :)