After last weeks drop, price stalled by the Yearly S2 which
was in confluence with the 127 Swing Expansion. Horizontal
resistance is at 0,8700 (previous low) and 0,8900 (lower
Kumocloud). Above that, is a stronger resistance with the
76,4 Fib Retracement and just above Yearly S1 and the
upper Kumocloud. It is hard to know wether there will be
a continuation down or price has made the medium term
low already. Since trend is bearish, selling into resistance
is the favoured strategy, looking for signals on lower timeframe.
The pair is still volatile and extra caution trading it is
recommended.
was in confluence with the 127 Swing Expansion. Horizontal
resistance is at 0,8700 (previous low) and 0,8900 (lower
Kumocloud). Above that, is a stronger resistance with the
76,4 Fib Retracement and just above Yearly S1 and the
upper Kumocloud. It is hard to know wether there will be
a continuation down or price has made the medium term
low already. Since trend is bearish, selling into resistance
is the favoured strategy, looking for signals on lower timeframe.
The pair is still volatile and extra caution trading it is
recommended.
