joshA25

joshA25

...

joshA25

I will be entering a short at 1.5700 area with a tight sl.

joshA25

.

joshA25

.

joshA25

Price is currently in a descending trend, price has touched resistance for a third time and has dropped a bit which points to a bearish bias.

joshA25

.

joshA25

Price is close to a second touch of a longstanding support level, once it hits support price is expected to increase. Tight SL on this one, Do not enter just now, wait for price to drop further before entering any positions.

joshA25

.

joshA25

.

joshA25

.

joshA25

.

joshA25

.

joshA25

break of support and a retest have already happened last week so we should see a drop this week

joshA25

.

joshA25

Not the best entry but still a decent entry level, price has broke out of an ascending trendline and has touched off of old support making it the new resistance.

joshA25

Check previous analysis for a more detailed analysis of this pair.

joshA25

Descending trendline on the 1 hour is visible. price is currently at resistance level allowing for a very tight SL if you decide to place positions.

joshA25

On the Daily we can see price has not been able to break 118.500 area since 2016, Price has already touched off this resistance area and has began to fall. On the 4 hour we can see a descending trendline which is currently right at resistance level. Price has potential to break this 4 hour trendline but long term this pair is a short.