sticking to the lower end of the Cloud, just below the Weekly
at 1.3680. The projected Cloud is twisting and turning
with a knot. And a remarkable row of dojis can be seen from the
last days movements. Oftentimes these dojis precede a sharper
move in either direction. Yesterdays price action saw some
divergence on lower timeframes but the slight recovery has had no
follow through as of yet.
Bulls would like a resolution and a break above the Cloud preferrably
with a close above the 1.61 , as a first step to shift the
trend. A taking out of the Jan 18 high at 1.74 is also crucial in a reversal
attempt. To the downside, a breaching of the 1.13 low from
Jan 22 will expose the low from Jan 17 at 0.87 which aligns
with the new Weekly S1.
Also take a look at the hourly analysis, with a terminating Triangle.