last post was stated that we must wait to see if price respects resistance zone. As it did and collapsed right after, making a strong bearish push to new lower low's.
As we now witness it has broken through the next level of support. We now wait to see if she'll decide to make this a new resistance level, making a further bearish push. Or, is this a false break and are we in store for a correction to that previous bearish trend line?
Overall, still bearish as we have also crossed the moving average line awhile back & came back to retest but only to respect it once again. (where that bearish engulfing took place)
Lower levels around the .63337 zone might be in store.
Cheers.
As we now witness it has broken through the next level of support. We now wait to see if she'll decide to make this a new resistance level, making a further bearish push. Or, is this a false break and are we in store for a correction to that previous bearish trend line?
Overall, still bearish as we have also crossed the moving average line awhile back & came back to retest but only to respect it once again. (where that bearish engulfing took place)
Lower levels around the .63337 zone might be in store.
Cheers.