Moraelin

Moraelin

On the 1H chart we might identify a rising wedge forming which is a bearish signal. I'll be looking at previous resistance/support level to define an entry for a short.

Moraelin

I believe we're approaching final leg of an UJ Elliott wave which may lead us to 114.8 (TP1) - 114 (TP2) levels, which can prove some support and start the retractment pattern. I expect leg 4 to continue a bit more towards MA200 before the next leg down. Disclaimer: this is a personal opinion, I'm not responsible if you decide to follow this.