Bears have taken over on previous weeks as we see long wicks on weekly chart. However, bulls will take over around 1.2800 (area 1) known as a strong weekly S/r marked in the chart. This S/r is seen more on daily timeframe. Also near 61.8 fib level. If movement goes below 1.2800 area, we will not see a reversal between 1.26000-1.27000 (area 2) weekly S/r.
Comment:
Pay more attention to upper wicks on weekly time frame that kept getting denied 1.32*** area.