The daily chart is showing a clear head and shoulders pattern
Price is static around the 0.68400 area. A clear break below the neck line would be a good entry on a smaller time frame. Expect price to retest before continuing down
Note, the Daily RSI is still a bullish trend. I would like to see the bright green trend line broken first. The 4hr RSI has a descending trendline, Price is not yet over sold.
1hr time frame is showing price at an small area of support. Price is forming a bullish pin bar. I suspect price may try a small rally before continuing down the current parallel channel / trendline
Price is static around the 0.68400 area. A clear break below the neck line would be a good entry on a smaller time frame. Expect price to retest before continuing down
Note, the Daily RSI is still a bullish trend. I would like to see the bright green trend line broken first. The 4hr RSI has a descending trendline, Price is not yet over sold.
1hr time frame is showing price at an small area of support. Price is forming a bullish pin bar. I suspect price may try a small rally before continuing down the current parallel channel / trendline
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.