UJ Analysis - Short
Updated
Daily: The pair has previously breakout of the bearish flag, signifying the correction rally might come to an end as it resume the downward trend. The pair is currently in a potential rising wedge, as the pair are topping out and possibly preparing for the drop. It has also formed a shooting star formation signalling downward movement. A daily candle close below 110 would form an evening star formation and thus confirm the bearish move towards 109 & 108.2. Look for favorable entry on H4.
H4: The pair is currently in a bearish flag and it is retesting the 110 support. An evening star has formed signifying a potential reversal. Wait for H4 candlestick to close for more confirmation.
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