1M
Price rallied up to 1.42500 were it struggles to break past this key resistance level. Once the shooting star formed the following month we saw the bears take over. EMA are looking like they are going to cross if the momentum is kept (Lagging EMA).
1W
Two weeks ago a bearish engulfing was formed which rejected the support 1.32500. This followed by some indecision in the market. This week if we can close below this support level should lead as to hit the next support of 1.3000. EMA pointing downwards.
1D
Price action is being pushed down by the EMA a shooting star formed and rejected the EMA. Yesterday closed as a Bearish engulfing, which in conjunction closed below the key support level which has now turned resistance.
4H
Key fib area has been reached and rejected, which was closely followed by a 3rd bounce of the trend line. The EMA’s crossed shortly after this while closing below a key area. -27% fib line lines up well with 1.3000, this is where my target is placed.
Price rallied up to 1.42500 were it struggles to break past this key resistance level. Once the shooting star formed the following month we saw the bears take over. EMA are looking like they are going to cross if the momentum is kept (Lagging EMA).
1W
Two weeks ago a bearish engulfing was formed which rejected the support 1.32500. This followed by some indecision in the market. This week if we can close below this support level should lead as to hit the next support of 1.3000. EMA pointing downwards.
1D
Price action is being pushed down by the EMA a shooting star formed and rejected the EMA. Yesterday closed as a Bearish engulfing, which in conjunction closed below the key support level which has now turned resistance.
4H
Key fib area has been reached and rejected, which was closely followed by a 3rd bounce of the trend line. The EMA’s crossed shortly after this while closing below a key area. -27% fib line lines up well with 1.3000, this is where my target is placed.