Weekly Predictions (Feb 4 - 8)

- Price gave strong rejection to 1.60004 resistance line, pair not yet overbought
- Pair may be on an overall downtrend with a brief retracement at the 0.382 fib level
- Tentative trendlines drawn in broken red, watch how price reacts to them

Comment:

4-hr chart

- Price is approaching EMA (25, close) from the downside