As the price has shown signs of rejection at the resistant level thus, the formation of a shooting star candle (previous day candle). We wait for a confirmation thus a candle close below the resistant level before entering a sell position.
As price reaches the resistant level 1.08646, the makret is reacting to the level by showing signs of a possible reversal to the downside. Thus a shooting star being formed as at publishing this analysis.
As the price approaches 98.129, a key level which the market has reacted to since 2006 and beyond. It is likely the market will reverse( go bearish) as it approaches the key level.
