Weekly
Rejections at the monthly level of 0.7750 since last year. More recently, we've had doji and spinning top rejections against monthly resistance. Signs of a reversal and momentum turning to the downside.
Lower highs on the spikes are also visible.
Daily
After an indecisive Thursday last week, Friday was a bearish engulfing taking out 2 days worth of prior price action. Price has been rejecting the daily barrier of 0.7600 this week.
H4
Break of our 4 hour TL with retest-rejection as shooting star and continuation. MAs crossed to the downside as well as the competion of lower highs and lows - this forms a downward facing TL. We also have just put in a bearish engulfing candlestick. Our 1 hour CTL has been broken.
Rejections at the monthly level of 0.7750 since last year. More recently, we've had doji and spinning top rejections against monthly resistance. Signs of a reversal and momentum turning to the downside.
Lower highs on the spikes are also visible.
Daily
After an indecisive Thursday last week, Friday was a bearish engulfing taking out 2 days worth of prior price action. Price has been rejecting the daily barrier of 0.7600 this week.
H4
Break of our 4 hour TL with retest-rejection as shooting star and continuation. MAs crossed to the downside as well as the competion of lower highs and lows - this forms a downward facing TL. We also have just put in a bearish engulfing candlestick. Our 1 hour CTL has been broken.
Comment:
SL moved to beyond BE
Trade closed: target reached:
95 pips profit.