Monthly
The last 3 months have been significantly bearish with rejections from 0.8100 and 0.7925. Last month we successfully breached and closed below 0.7750 as well as our MAs.
Weekly
Again, clear bearish activity in the last couple of weeks - price rejected a key daily area last week and we've also had an MA crossover.
Daily
There has been clear lower highs and lower lows - the daily MAs are in alignment with the weekly. We've been consolidating around the current area but we have respected the MAs very nicely.
H4
Lower highs and lower lows have been forming supporting our downtrend bias. We have rejected 61.8% fib region with a 2 shooting stars. We also have an MA crossover to the downside with a CTL break.
The last 3 months have been significantly bearish with rejections from 0.8100 and 0.7925. Last month we successfully breached and closed below 0.7750 as well as our MAs.
Weekly
Again, clear bearish activity in the last couple of weeks - price rejected a key daily area last week and we've also had an MA crossover.
Daily
There has been clear lower highs and lower lows - the daily MAs are in alignment with the weekly. We've been consolidating around the current area but we have respected the MAs very nicely.
H4
Lower highs and lower lows have been forming supporting our downtrend bias. We have rejected 61.8% fib region with a 2 shooting stars. We also have an MA crossover to the downside with a CTL break.
Comment:
Moved SL into profit.
Trade closed: target reached