On weekly timeframe we have 3 weeks rejection from a trend line.
Last week we had a breakout of a resistance level and retest of a trend line with a long wick showing a bearish pressure.
Next week probably opens with a gap, still need some price action confirmation, but i am bearish overall
Potential TP - 0.59628 (more long-term)
Lower highs and lower lows are updating on a weekly and daily charts, so we have a valid bearish trend
We can even have a massive bearish move to 0.54659, but at first we have to break previous support
On 4 hours we have a multiple reactions to the trend line
From daily perspective i observe an indecision, or price just accumulation for a move.
Price currently stuck on a support/resistance but i expect a solid move next week
So put your eyes on this currency pair, wait for a bearish confirmation and go all in (joke) =)
Put your loss and take profit depending on your trading strategy and risk management .
Daily
4 Hours
Last week we had a breakout of a resistance level and retest of a trend line with a long wick showing a bearish pressure.
Next week probably opens with a gap, still need some price action confirmation, but i am bearish overall
Potential TP - 0.59628 (more long-term)
Lower highs and lower lows are updating on a weekly and daily charts, so we have a valid bearish trend
We can even have a massive bearish move to 0.54659, but at first we have to break previous support
On 4 hours we have a multiple reactions to the trend line
From daily perspective i observe an indecision, or price just accumulation for a move.
Price currently stuck on a support/resistance but i expect a solid move next week
So put your eyes on this currency pair, wait for a bearish confirmation and go all in (joke) =)
Put your loss and take profit depending on your trading strategy and risk management .
Daily
4 Hours
Analyzing...