Bearish session today with technical breaks to the downside and the break below the key daily trendline. Before i get too bearish on this market one thing to pay close attention to, the weekly trendline connecting the lows Nov07-17' & Dec18-17'. Also note the 1.21 handle and the Sep04-17' high.
If the weekly trendline holds as support, the next major area of resistance is the recent weekly highs at 1.2570, a break above would enable the trend continuation from the weekly trend perspective. And a break below this trendline could open up a much more meaningful trend reversal in the longer term.
Defiantly something to be aware of looking ahead
If the weekly trendline holds as support, the next major area of resistance is the recent weekly highs at 1.2570, a break above would enable the trend continuation from the weekly trend perspective. And a break below this trendline could open up a much more meaningful trend reversal in the longer term.
Defiantly something to be aware of looking ahead