Well what we have here is a retracement to broken support now turned resistance. Clean, cut, and simple. I highlighted the area that I would be keeping an eye on for signs of sellers re-entering the market. The candlestick formations that I will be looking for are the usual doji / pinbar / hammer in order to enter the trade on the "short" side. If there isn't any bearish candlestick confirmation than I will sit aside and wait to see what price does at the 1.1400-1.1470 area which is relatively strong resistance during February & the beginning of this month.
Cheers =)
Cheers =)