As the market rallied for its third touch in an area of high sensitivity on the Monthly and Weekly time frames, we can soon expect a high sell of. On the monthly time frame, upward momentum has slowed down and an area of high resistance can be seen in the 1.35900 region, which coincides with the 88.6% retracement on the Daily time frame, and also an area of retest on the H4 time frame within the December high. An entry should then be looked for when the market rallies to this region and confirms with some bearish variation pattern.
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.