CHART ANALYSIS: Price has failed to hold above resistance on the hourly time frame. It has also formed a hanging man 2 hours ago. Last hour it also failed close above resistance, further solidifying a long term bearish bias. An hourly close below 1.120 will most likely allow price to drop towards 1.080. We would also be closing below a VERY strong trend line that price hasn't ignored since March.
- No risk, no reward.
- No risk, no reward.