Two hour chart shows huge bearish impulse candles, no long yet for me. I wait.
No short as long as price is above weekly 20 MA and above 0.90000.
I still don`t see this as SMART MONEY short intention, rather as a complex REMOVAL OF SUPPLY operation around this 0.91000 - 0.91150 zone....
Notice that 141.85 is roughly the WEEKLY 20 MA. For now : likely to continue ranging here in this 142.35 - 143.95 area.
Classic inverse to DAX, but if you zoom out - weekly / monthly - at high levels.
Similar to DAX in recovery from extreme oversold. Medium-term I think we are in a transition period from extreme bull to sideways and down. Waiting for weekly confirmation.
Retest of momentum candle base - or breakout area around 1.3800.
Intra-day could have some upside recovery attempt, but I wait - as the situation looks fragile and a new short only possible from more favorable higher prices.
No deeper monthly change in trend yet, but further ( intra-day and 4hr-Daily ) moves down expected.
Look for short confirmation if conservative ( break through down and retest ).
Could still touch extremes below, like 9100 and 9000, to knock out options buyers, before triple witching on March 21st.
Watching if this 0.8885 zone holds as support, if not we could see 0.8600.
Multi-month basing pattern, here on Daily off highs, but only a drop below 19.58 would be of concern. Waiting game here, more upside seen during 2014.
I could imagine that we have lots of stops below this 100.73 area, hard to believe that we see a rise in price without some move down below support.
If support holds then back higher to 144.00, below 141.80 down to 140.00.
Price level 0.90000 is critical, if it doesn`t hold then down to dynamic trendlines.