1. Retested monthly resistance 1.7800 2. Rejecting fibonacci golden ratio. 3. Twizzer top on H4.
CONFLUENCES : 1. Market rejecting H4 resistance 0.97746 after showing multiple candlestick wick. 2. Shooting star formation on H4 resistance 0.97746 . 3. Expecting price to retest major support 0.95500 . (yellow strips)
Expecting to make new lower low Target D1 extension fibonacci 0.54300
Along side with the current downtrend momentum, the market still respect the downtrend trendline. The 4th touch of the trendline and bearish engulfing candlestick give a potential for the market to make new lower low. Taking Daily key level (130.720) as or D2 extension (130.800) as target projection.