CONFLUENCE:
1. Price ranging between Daily res 1.8300 and Daily sup 1.16670
2. Overall trend is down, momentum show strong bearish rejection of 4hr zone 1.18010 which could possibly be a supply zone, will retest before going further down to 1.16670
3. All zones are in line with fb areas i.e 4hr resistance (1.18010 ) aligns with 38.2 fib and 23% fib levels which are strong continuation levels.
50% aligns with daily resistance level 1.18300 round number.
1. Price ranging between Daily res 1.8300 and Daily sup 1.16670
2. Overall trend is down, momentum show strong bearish rejection of 4hr zone 1.18010 which could possibly be a supply zone, will retest before going further down to 1.16670
3. All zones are in line with fb areas i.e 4hr resistance (1.18010 ) aligns with 38.2 fib and 23% fib levels which are strong continuation levels.
50% aligns with daily resistance level 1.18300 round number.
