Hello Traders,
Today, the pair is looking to bounce off trendline, repeating the lower high / lower low pattern. Although the Daily shows price above the 200 MA, which generally gives us the trend, should we put in a short order and target last low of ~1.311??
I f we get a close today on or below the BB basis line, and tomorrow pushes it down further, I would short this swing!
For now, let's see today's/tomorrow's close on the Daily for confirmation. Also, we'll check the DXY for any big fundamentals we'd consider for. Otherwise, just for technical analysis, hope to see today & tomorrow bearish candles, especially below the BB basis line.... then I might have the warm & fuzzies!!
This is only an opinion, so please only treat as such, thanks!
Today, the pair is looking to bounce off trendline, repeating the lower high / lower low pattern. Although the Daily shows price above the 200 MA, which generally gives us the trend, should we put in a short order and target last low of ~1.311??
I f we get a close today on or below the BB basis line, and tomorrow pushes it down further, I would short this swing!
For now, let's see today's/tomorrow's close on the Daily for confirmation. Also, we'll check the DXY for any big fundamentals we'd consider for. Otherwise, just for technical analysis, hope to see today & tomorrow bearish candles, especially below the BB basis line.... then I might have the warm & fuzzies!!
This is only an opinion, so please only treat as such, thanks!
Note
The pair is slowly going down... we'll keep monitoring!Note
The pair is now in oversold position on the Daily, bearish action will likely continue!
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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.