Since the start of May, price has been increasingly bearish after it previously formed a Double Top on Institutional Level 1.265. The following 2 weeks, Price has continue to make a series of LL and LH formation with the Price respecting the EMA 14.
on 20th of May, Price has rejected the EMA 14 and seemingly formed a new LH formation with a Shooting Star. Thus, for the new trading week I'll be expecting further Bearish momentum to test the support at 1.215, 1.21 and a potential new LL formation.
on 20th of May, Price has rejected the EMA 14 and seemingly formed a new LH formation with a Shooting Star. Thus, for the new trading week I'll be expecting further Bearish momentum to test the support at 1.215, 1.21 and a potential new LL formation.
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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.