Just my take on this pair:
Downward Channel since Dec 2015 favouring a sell set up
Trend Line now touched and fell back
Resistance Holding with price rejection indicated by Daily Pin bar candle forming
Just my take on this pair:
Downward Channel since Dec 2015 points to a sell set up
Trend Line Touched and fell back
Resistance Holding so far with price rejection indicated by Daily Pin bar candle forming.
Let's see.
Things are lining up for a short from my point of view.
- Price currently testing decent resistance level;
- Also currently near Pivot Point R3;
- Trend Line from previous highs;
- RSI at overbought levels;
- Possible start of CD leg of harmonic pattern.
Lets see how this price action plays out early this week but I'll be keeping a eye on this pair.
