Are Bears Strong Enough To Hit Support Level?
Bearish Indication
-Trend is downward which is in favor of bears
-Bearish engulfing is observed at the recent high low
-Bearish flag is made which predicts the downward trend and you may aim to the predicted target which is at 1.00570
-Support is being testing out at 4 hours frame at 1.01314
Bullish Indication:
-Resistance 1 at 1.02363
-Resistance 2 at 1.02041
Biased Go Short
Plan A
Short at support level 1.01314
SL: 1.02041
TP1: 1.01010
TP2: 1.00710
Plan B
Short at 1.01682
SL: 1.02041
TP1: 1.01381
TP2: 1.01081
If R1 is broken then there would be trend reversal. And may go long.
-Trend is downward which is in favor of bears
-Bearish engulfing is observed at the recent high low
-Bearish flag is made which predicts the downward trend and you may aim to the predicted target which is at 1.00570
-Support is being testing out at 4 hours frame at 1.01314
Bullish Indication:
-Resistance 1 at 1.02363
-Resistance 2 at 1.02041
Biased Go Short
Plan A
Short at support level 1.01314
SL: 1.02041
TP1: 1.01010
TP2: 1.00710
Plan B
Short at 1.01682
SL: 1.02041
TP1: 1.01381
TP2: 1.01081
If R1 is broken then there would be trend reversal. And may go long.
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