Monthly
MONTHLY REJECTION OF 1.3400 LEVEL WITH SPINNING TOP
AND LONG-LEGGED DOJI. HUGE BEARISH ENGULFING CANDLE
FOR JANUARY TAKING OUT 5 MONTHS OF PRIOR BULLISH
PRICE ACTION - STRONG REVERSAL INDICATION.
Weekly
WEEKLY CHART IS SHOWING FALSE BREAKS OF MONTHLY
RESISTANCE OF 1.3400. CLEAR BEARISH PRICE ACTION
CLOSING BELOW LONG TERM TREND LINE AS WELL AS
WEEKLY SUPPORT OF 1.3100 - ALSO AN MA CROSSOVER TO
THE DOWNSIDE
Daily
DAILY CHART SHOWING DOUBLE TOP AND WEEKLY SUPPORT
OF 1.3100 AS NECKLINE - THIS NECKLINE/SUPPORT AREA
HAS FINALLY BEEN BROKEN AND WE HAVE A CLOSE BELOW
+ RESTEST-REJECTION. MA CROSSOVER IN ALIGNMENT WITH
WEEKLY CHART
ALSO CLEAR FORMATION OF LOWER HIGHS AND LOWS
SUPPORTING DOWNWARD MOMENTUM
H4
BREAK OF CTL AS WELL AS BEARISH ENGULFING CANDLE CLOSING THE DAY OFF TAKING OUT 20 HOURS OF PRICE ACTION.
MONTHLY REJECTION OF 1.3400 LEVEL WITH SPINNING TOP
AND LONG-LEGGED DOJI. HUGE BEARISH ENGULFING CANDLE
FOR JANUARY TAKING OUT 5 MONTHS OF PRIOR BULLISH
PRICE ACTION - STRONG REVERSAL INDICATION.
Weekly
WEEKLY CHART IS SHOWING FALSE BREAKS OF MONTHLY
RESISTANCE OF 1.3400. CLEAR BEARISH PRICE ACTION
CLOSING BELOW LONG TERM TREND LINE AS WELL AS
WEEKLY SUPPORT OF 1.3100 - ALSO AN MA CROSSOVER TO
THE DOWNSIDE
Daily
DAILY CHART SHOWING DOUBLE TOP AND WEEKLY SUPPORT
OF 1.3100 AS NECKLINE - THIS NECKLINE/SUPPORT AREA
HAS FINALLY BEEN BROKEN AND WE HAVE A CLOSE BELOW
+ RESTEST-REJECTION. MA CROSSOVER IN ALIGNMENT WITH
WEEKLY CHART
ALSO CLEAR FORMATION OF LOWER HIGHS AND LOWS
SUPPORTING DOWNWARD MOMENTUM
H4
BREAK OF CTL AS WELL AS BEARISH ENGULFING CANDLE CLOSING THE DAY OFF TAKING OUT 20 HOURS OF PRICE ACTION.
Trade closed: stop reached