The lower time frame confirm the Daily analysis that we take earlier.
As we can see the price find a strong resistance in the 0.5 Fib retracement.
I am gonna target the previous low
Last week, the price has closed with a Doji candlestick that represent indecision on the side of both buyers and sellers. I think that it confirms the overall downtrend continuation. I am looking for a short positions on this pair this week because the price still trending below all my simple moving averages.
The price is trending below the 50 SMA, the RSI signal an oversold. I am looking for a retest of the 50 SMA which will confirm that the downtrend channel is respected then go short.
On the daily chart I see that the price is below all the moving averages
Also the price closed last week with a great Marubozu which confirm the bearish bias.
I am looking for a short positions on this pair for this week.
On the 4H chart we have a symetrical triangle, which make us to wait until a breakout to the upside or the downside.
If the price get into the yellow area and occur a BCR I will look to go long and watch out the resistance on 0.98
If the price break from the downside of the triangle and a BCR occurs on the triangle support level then I will look for a possible...
