Monthly long upper and lower shadows on bearish candle, weekly hammer candle.
Trading below the 8MA 20MA and 200MA on all timeframes - downtrend,
On the daily chart above, MA crossover, technical retracement (market breather and profit taking) to 50% fib level and key level 1.1 round number resistance, daily has closed below 1.1.
A break below the bullish counter trend line will see a move down to 1.0750. A daily close above 1.1 will see a move to 1.1130. Downside favoured.
Trading below the 8MA 20MA and 200MA on all timeframes - downtrend,
On the daily chart above, MA crossover, technical retracement (market breather and profit taking) to 50% fib level and key level 1.1 round number resistance, daily has closed below 1.1.
A break below the bullish counter trend line will see a move down to 1.0750. A daily close above 1.1 will see a move to 1.1130. Downside favoured.
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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.