Market currently testing H4 trendline with a possible triple top formation on 1H chart. Bearish divergence formed witin the trendline area so we expect the market to move further downside with target 137.300
Market testing resistance level 110.800 and reject with a bearish engulfing candle. Target is at previous low in line with 0% fibonacci at 110.250 level.
Spinning top have formed on the daily chart at the critical level 1.00300 in line with 0.382 fibonacci level. Overall structure on the daily chart is currently riding a descending channel. My recommendation is short with a target at the previous low.
Daily chart have closed below critical level 84.000 and 0% fibonacci . We will take the retest of this level with target at 82.500 in line with -0.61 fibonacci level.
Market found support near 1.24800 in line with 0.618 fibonacci level and reject the trendline with an inside bar candlestick. Target would be at 0% fibonacci level near 1.25600.
