IKinyanjui

IKinyanjui

This market seems to be in a triangular pattern, (in purple) waiting to hit the area around the 4H Trend line (higher blue trend line) or the D1 Trend line (Higher brown trend line) I didn’t manage to spot any resistance or support levels higher than the ones identified on this screenshot, however, there are other zones identified using the weekly...

IKinyanjui

There are just too many probabilities in this market at the moment: (1) Currently, it has reached a resistance level as shown from the three tops areas. (2) Secondly, there seems to be formation of a Bilateral Ascending Triangle which usually dictates that a market in such a situation could take up any direction when it has completed the formation of that...

IKinyanjui

This looks like a bearish market, as price is currently in a downward channel heading towards the 1.32500 / 1.32000 price/support level. The market has completed a retracement to the 78.6% Fib level and is now headed to the downside.