Trading above the 30 day ksen, the pair is seeing selling pressure having descended below its 6 day trend line, and about to cross below its 12 day trendline. The 15 day and 30 day trendline offer solid support and we should see a pause in the selloff at 1.85 level.
The current 18 hour slope (Csen below 18 hour prices) is the immediate daily move down.
Target profit is set at 1.8500 (the current 12 day line and the 12 day SAR. Hitting the 12 day SAR would be bearish, paving the way for a series of shorts to test 1.8464 (the 30 day trend line).
The current 18 hour slope (Csen below 18 hour prices) is the immediate daily move down.
Target profit is set at 1.8500 (the current 12 day line and the 12 day SAR. Hitting the 12 day SAR would be bearish, paving the way for a series of shorts to test 1.8464 (the 30 day trend line).
Comment:
Closing off shorts at 1.8556 and taking profits. Sitting on the sidelines. As expected, there is resistance to breaking the 15 day and 30 day trendline at 1.85 level. Prices reached an extreme at 1.8511 and could not go past.
Trade closed: target reached