Monthly
Price on the monthly timeframe has been extremely bullish especially last month. This month however, as we have reached a key level, we may be experiencing price stalling. At the moment there is some indecision.
Weekly
2 weeks ago, as we approached 1.3000, price formed a hanging man which is a strong reversal candlestick formation. This was followed by a bearish engulfing completing taking out the week prior as well as 60% of bullish action the week before.
Daily
The last 5 days have been quite bearish in terms of price action.
H4
Lower highs and lower lows have been forming for some time supporting a reversal in the trend direction. Last week price broke our four-hour TL and has more recently rejected the 61.8% fib level - this also completes another lower high. MAs are downward facing. We have also broken our 1-hour CTL, retested and rejected playing off a continuation.
Price on the monthly timeframe has been extremely bullish especially last month. This month however, as we have reached a key level, we may be experiencing price stalling. At the moment there is some indecision.
Weekly
2 weeks ago, as we approached 1.3000, price formed a hanging man which is a strong reversal candlestick formation. This was followed by a bearish engulfing completing taking out the week prior as well as 60% of bullish action the week before.
Daily
The last 5 days have been quite bearish in terms of price action.
H4
Lower highs and lower lows have been forming for some time supporting a reversal in the trend direction. Last week price broke our four-hour TL and has more recently rejected the 61.8% fib level - this also completes another lower high. MAs are downward facing. We have also broken our 1-hour CTL, retested and rejected playing off a continuation.
Trade fechado: stop atingido:
50 pip loss.