Reasons/Traits : • Price is exactly at a point for breakdown of the trend (4th time trying to breakdown) • 0.236 level will it break or take support to go up? • Price about to touch 50 EMA • Bullish since May • RSI strength is reducing and is below 50 • Price is lower than previous higher highs • Perfectly trying to reverse the wave trend
What can happen next : Scenario 1 : Price sustaining 0.236 level can go up to 1140 and up taking 50 EMA support Scenario 2 : Price break down of trend or 0.236 levels go to 0.382/0.5/0.618 levels to meet 200 EMA
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!