DAILY VIEW WITH 4H TECHINCALS, We can't deny the buyers in this market. Yes we fell but how long will that really last looking at the daily channel then break for the bounce up next week,
Price is near the sell entry price of 83.306 which is Fibonacci projection of 100% and Fibonacci retracement of 61.8%. Price can potentially dip to the take profit level of 81.889 which is 50% Fibonacci retracement and 61.8% Fibonacci projection . Our bearish bias is supported by ichimoku cloud indicator as price is trading under it.
Any opinions, news, research,...
4H CHART EXPLANATION:
On this timeframe price is facing the minor resistance zone, which we expect to be broken soon. Then, the resistance zone at 74.500 it is the definition zone as explained on the daily chart. There, we have two possible scenarios, the bearish one and the bullish one.
DAILY CHART:
