As you see in the 4H time frame, after an upside move, price failed to make a higher high and made a descending triangle pattern which is broken to the downside. Moreover, price has approached to the Daily resistance level too.
Currently, we can see the downside pressure on price. There is a support level around 164.480 which is the current target for price (TP1). We should look for sell entries in H1 and M15.
If price breaks 164.480 and closes bearish candle below this level, the next target would be around 161.570 which is a mid-term target.
Currently, we can see the downside pressure on price. There is a support level around 164.480 which is the current target for price (TP1). We should look for sell entries in H1 and M15.
If price breaks 164.480 and closes bearish candle below this level, the next target would be around 161.570 which is a mid-term target.
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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.