Despite rebound from the low of 1.1150, the pair’s subsequent struggle to breach head and shoulder neckline following Friday’s bearish day end close suggests increased risk of a fresh drop to 1.1149 (Friday’s low).
Violation at 1.1149 and a drop towards 1.11 handle appears likely if we take into consideration the bearish MACD.
Only a day end close above the neckline would suggest bearish invalidation.
Violation at 1.1149 and a drop towards 1.11 handle appears likely if we take into consideration the bearish MACD.
Only a day end close above the neckline would suggest bearish invalidation.
