August 16 daily candle failed to close above 103.465
which is the high of August 14 Daily Candle.
Supported by a rejection of an old 4h-ob
+ old long-term trendline
Due to this, I'm expecting a retracement back to August 16 Daily low of 102.95
We are bearish short term.
Additional note.
If the weekly candle close below PV-week high @102.91
we should expect a further retracement to 102.77 around fvg daily area.
which is the high of August 14 Daily Candle.
Supported by a rejection of an old 4h-ob
+ old long-term trendline
Due to this, I'm expecting a retracement back to August 16 Daily low of 102.95
We are bearish short term.
Additional note.
If the weekly candle close below PV-week high @102.91
we should expect a further retracement to 102.77 around fvg daily area.
Note
![BEARS IN CONTROL [UPDATE#2]](https://s3.tradingview.com/g/GZbBnKUd_mid.png)
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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.