So what happened today was the completion of the 50-60 FIB retracement after we came down from 136.500 area as you can see clearly marked on my chart.
And also half way through forming the potential H&S I posted last night.
From tomorrow if we complete it we can start seeing some nice selling from next week.
Key points for bearish momentum:
Fundamentals:
1) No deal Brexit
2) Coronavirus
3) Bad UK data and weaker GBP
Technicals:
1) June monthly candle closing with huge wick lower and lower close from April 2020 which was retracement from coronavirus crash.
2) Completion of fib retracement up to 50-60 area after big crash from 136.500 to 131.800
3) Strong Resistance and liquidity zone for sellers of 135 holding.
All this is only for educational purposes only.
Fell free to share your outlook.
And also half way through forming the potential H&S I posted last night.
From tomorrow if we complete it we can start seeing some nice selling from next week.
Key points for bearish momentum:
Fundamentals:
1) No deal Brexit
2) Coronavirus
3) Bad UK data and weaker GBP
Technicals:
1) June monthly candle closing with huge wick lower and lower close from April 2020 which was retracement from coronavirus crash.
2) Completion of fib retracement up to 50-60 area after big crash from 136.500 to 131.800
3) Strong Resistance and liquidity zone for sellers of 135 holding.
All this is only for educational purposes only.
Fell free to share your outlook.
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.
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.