Technically the pair has landed in our overlapping S/R Zone, and it didn't manage to break above. Also it retested dominant downtrend resistance line which was very respected back from September 2017 and the pair also did not break above.
This is telling us that bears are taking control of the market and that the pair could be dropping down to previous support zone at 0.7745
Let's see how it goes. Good luck!
This is telling us that bears are taking control of the market and that the pair could be dropping down to previous support zone at 0.7745
Let's see how it goes. Good luck!
Note
Okay guys, bias is changing here. If daily closes above the trendline, we will wait for the retest of it on lower timeframe and open long position in case downtrend line starts acting as support.
Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.