Monthly
• Moving Averages crossed to the upside
• Price currently showing a bullish advance which is finding resistance at Monthly level 1.2590
Weekly
• Moving averages crossed to the upside
• Price action showing an evening star candlestick formation which is followed by bearish shooting star
• Price on a 350 pip range on this time frame
Daily
• Moving averages crossed to the upside however are closely conversed pointing to the downside due to crossover
• Bullish trend-line broken with daily candle closing below broken trend-line
• Price action made a double top candlestick reversal
• Daily resistance level of 1.23621 holding thus far as it was broke below and retested before price broke trendline
4 Hour
• Moving averages crossed to the downside prior to trend-line signaling incoming bearish momentum which lead to trend-line break
• Trend-line broke and subsequently retested with price action leaving a series of bearish inside bars giving an indication price will continue with current momentum to the downside
• The 8 EMA acting as dynamic resistance
Target is Weekly support level of 1.20480 with potential to go lower. However we will cross that bridge once primary target is reached
• Moving Averages crossed to the upside
• Price currently showing a bullish advance which is finding resistance at Monthly level 1.2590
Weekly
• Moving averages crossed to the upside
• Price action showing an evening star candlestick formation which is followed by bearish shooting star
• Price on a 350 pip range on this time frame
Daily
• Moving averages crossed to the upside however are closely conversed pointing to the downside due to crossover
• Bullish trend-line broken with daily candle closing below broken trend-line
• Price action made a double top candlestick reversal
• Daily resistance level of 1.23621 holding thus far as it was broke below and retested before price broke trendline
4 Hour
• Moving averages crossed to the downside prior to trend-line signaling incoming bearish momentum which lead to trend-line break
• Trend-line broke and subsequently retested with price action leaving a series of bearish inside bars giving an indication price will continue with current momentum to the downside
• The 8 EMA acting as dynamic resistance
Target is Weekly support level of 1.20480 with potential to go lower. However we will cross that bridge once primary target is reached