1M
Morning Star formed at the weekly 1.82500 resistance level. Followed by a further bearish momentum to break 1.77500 and now we have broken 1.7500 support. EMA are lagging on this time frame.
1W
Weekly lower low has been taken out and a new lower low have been established. EMA are pointing downwards. Last weeks close below 1.7500 proves we could be heading down to 1.72500.
1D
A shooting star has been formed 2 days ago which has formed the lower high of this trend, this also touched a key fib level for me, while rejecting the downwards facing EMA’s. A daily close below 1.7500 could prove further movement to the next major support level.
4H
Price swings up to preferred key fib level, before turning around and bullish momentum taken price below 1.7500. Followed by a crossover of the EMA. Target is set to 1.72500.
Morning Star formed at the weekly 1.82500 resistance level. Followed by a further bearish momentum to break 1.77500 and now we have broken 1.7500 support. EMA are lagging on this time frame.
1W
Weekly lower low has been taken out and a new lower low have been established. EMA are pointing downwards. Last weeks close below 1.7500 proves we could be heading down to 1.72500.
1D
A shooting star has been formed 2 days ago which has formed the lower high of this trend, this also touched a key fib level for me, while rejecting the downwards facing EMA’s. A daily close below 1.7500 could prove further movement to the next major support level.
4H
Price swings up to preferred key fib level, before turning around and bullish momentum taken price below 1.7500. Followed by a crossover of the EMA. Target is set to 1.72500.
Trade closed: stop reached:
Stop Loss hit.