Falling wedge completing.. Price could possibly complete a double bottom if it goes back up to the 0.618 Fib area at 90.323 If price continues to drop it may reach the 1 Fib area at 90.095 again and if it breaks below, it could drop to atleast 90.000- 89.800 Thoughts?
A bullish flag is being formed. If price retests, it could possibly hit the 1940-1920 area before a reversal. Price attempted to retest the previous demand zone yet failed to break above, confirming that the pullback is not yet complete.
Price recently reached the support area of 122.2 . If it breaks above this area, it could potentially reach 122.5 to 123.0. However if it breaks below the support area, it could pullback to 121.5 before continuing the uptrend and potentially reaching 123.0 Let's wait and see how it plays out.
This rising wedge pattern indicates that it could be a pullback around 107.978 before a drop to approximately 107.841 before consolidation or reversal.
Rising wedge on the 1D chart 2 Bearish engulfing on the 15min chart Watch for any news on escalating Covid-19 outbreaks which could further confirm a continuation to the downside.
Price broke the below the initial high, creating downtrend confirmation. Along with the Brexit deal decline, I am looking to go short at the 1.28000 level if a lower low is formed. These are my thoughts. Comment yours below.