Price direction on a 1D chart is down, as new lower low and lower high appeared (Price direction is not the same as a trend direction)
Yesterday's close is below 5MA what gives a bit more power to bearish signals
Currently none of the major chart patterns appears (1D Chart)
Price is currently at 100% Fibonacci retracement area
in a relation to Previous swing UP
Will look for a possible range bounce entry setup (based on 1D chart, mid-term) at arround 132.00
On a 4H chart we have a bullish pattern
Divergence with a current oscillator confirms the reversal pattern on a 4H chart, what gives support to momentum traders, and can possibly give a momentum to the price movement.
Price is currently at 127.2% Fibonacci retracement area (Filtered to 4H timeframe)
in a relation to Previous swing UP
Will look for a possible countertrend entry setup (based on 4H chart, mid-short term) at arround 132.200
Currently none of the major chart patterns appears on 1H chart
Price is currently at 23.6% Fibonacci retracement area (Filtered to 1H timeframe)
in a relation to 1H Chart
Will look for a possible countertrend entry setup (based on 1H chart, short-term) at arround 132.800
In conclusion, all the levels I mentioned are based on a current market activity, but everything can be changed within seconds, however based on a review that is done, as mainly intraday trader I will be looking for a selling oportunities today (or at least during the present session).
Yesterday's close is below 5MA what gives a bit more power to bearish signals
Currently none of the major chart patterns appears (1D Chart)
Price is currently at 100% Fibonacci retracement area
in a relation to Previous swing UP
Will look for a possible range bounce entry setup (based on 1D chart, mid-term) at arround 132.00
On a 4H chart we have a bullish pattern
Divergence with a current oscillator confirms the reversal pattern on a 4H chart, what gives support to momentum traders, and can possibly give a momentum to the price movement.
Price is currently at 127.2% Fibonacci retracement area (Filtered to 4H timeframe)
in a relation to Previous swing UP
Will look for a possible countertrend entry setup (based on 4H chart, mid-short term) at arround 132.200
Currently none of the major chart patterns appears on 1H chart
Price is currently at 23.6% Fibonacci retracement area (Filtered to 1H timeframe)
in a relation to 1H Chart
Will look for a possible countertrend entry setup (based on 1H chart, short-term) at arround 132.800
In conclusion, all the levels I mentioned are based on a current market activity, but everything can be changed within seconds, however based on a review that is done, as mainly intraday trader I will be looking for a selling oportunities today (or at least during the present session).
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.
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.