Price closed last week with a bullish engulfing candlestick. I expect price to retest the trendline to create a lower high. If we see a break of the trendline, price could hit monthly resistance 0.9950.
Price has broken through weekly support 1.8170 and is continuing its bearish move since bouncing off the trendline and 0.5 fib level. If price continues to decline, we could see it reach 1.6862 and 1.5823.
Price is currently in a range. It has bounced off the 0.382 fib level which is acting as resistance. MAs are also pointing down on M,W,D and 4H time frames. I will sell once price breaks out to the downside.
Price has bounced off the 0.618 fib level and is continuing to the downside. We can see that price has now broken the trend line and is now attempting to break the weekly supp 0.7320. If it is successful, it will suggest further bearish momentum.