WEEKLY: 3 weeks ago we had a strong candle suggesting a move to the downside, since then we have had a further 2 candles which have closed as candles as well, thus signalling that this pair is currently in a downtrend.
DAILY: 6 days ago we had a strong maribozu candle formed, where price moved downwards by 110 pips in one day. We have also had a close below the monthly area of support at 0.7400 3 days ago. MA's to the downside all suggesting more price action.
4HR: Break of Counter and retest, we also had a bar which engulfed the previous candles. MA's to the downside.