Short-term there is a good short opportunity here.
Bearish Factors
Target is at horizontal 1.161 support, second target bottom of channel. This is in line with the larger hidden bearish divergence that can be more clearly seen on higher time frames.
Bearish Factors
- Hourly RSI is topped out
- Bearish Divergence on SRSI (yellow)
- C-clamp formation on Ichimoku Cloud
- At parallel channel resistance
- Larger hidden bearish divergence (red)
Target is at horizontal 1.161 support, second target bottom of channel. This is in line with the larger hidden bearish divergence that can be more clearly seen on higher time frames.