STAR
Nikkei Struggling At Key Resistance as Revised Coronavirus Data Optimism crept back into the market earlier this week, with market participants speculating that cases of 2019-nCoV may peak by the end of February.
However, a revision of the counting methods used to identify infections led to a 15,000 case jump in the Hubei province; with the WHO stating many of these cases date back up to three weeks.
This has seen doubt creep back into the market with the Nikkei FOREXCOM:JPXJPY pegging back most of its gains from earlier in the week, after failing to break key resistance at the 24000 handle.
Early formation of a shooting star candle, a potential triple-top reversal pattern and RSI divergence highlights exhaustion in the recent uptrend from late August 2019, and could see price begin to pull back to retest the 2020-low (22637) and 38.2% Fibonacci (22525).
Break of support & sustained momentum to the downside could see price push towards significant uptrend support ,extending back to June 2016, and confluence with the 61.8% Fibonacci (21509). FOREXCOM:JPXJPY
EUR/AUD 4H SHORT ANALYSIS Price go higher and hit strong ressistrance level at 1.64494
after that price drop and retrace at 0.618 level of fibonacce retracement level
Now we see a evening star pattern show up
Price will go down at 1.62630 (Pink Line) then test it again and after confirmation price will drop at the next strong support level at 1.61175.
$CYRN Potential Weekly Reversal Pattern #SequentialWe could see a price reversal at the end of this week
A Morning Doji Star is currently appearing
The previous TDST Support could be a strong resistance.
Bearish Sequential Countdown is still in progress (3/13 bars) and we need to close above TDST Support or a TD Sell Setup (9 consecutive price bar closes that are greater than the close 4 price candles earlier) to cancel it.
About TD Sequential:
MATHR3E