1M
Last few months price has been testing the resistance level at 1.42500. Followed then by testing 1.40000. This month we have seen the bulls give way to the bears and push the price down below to key support lines.
1W
EMA is downwards facing which is a good indication for more bearish momentum. Last week the candle stick broke a key support level of 1.35000. Next key level is at 1.32500.
1D
Yesterday’s candle stick formed as a bearish engulfing, alongside the EMA pointing downwards.
4H
Price action has popped up into the preferred fib zone, which also tests the strength of the bearish EMA as resistance. The -27% target lines up well with the next major support at 1.32500.
Last few months price has been testing the resistance level at 1.42500. Followed then by testing 1.40000. This month we have seen the bulls give way to the bears and push the price down below to key support lines.
1W
EMA is downwards facing which is a good indication for more bearish momentum. Last week the candle stick broke a key support level of 1.35000. Next key level is at 1.32500.
1D
Yesterday’s candle stick formed as a bearish engulfing, alongside the EMA pointing downwards.
4H
Price action has popped up into the preferred fib zone, which also tests the strength of the bearish EMA as resistance. The -27% target lines up well with the next major support at 1.32500.
Trade active:
Stop loss moved into profit.
Trade closed: target reached:
Target reached.