Weekly: Levels close to 1.3414 continues to find sellers. This was the low (support) from Q2 2016, now becomes resistance. Last weeks price action formed a Outside Week, often an indication that a top is in place. The move higher from 2016 has been mixed and volatile and could be seen as a Ending formation. support is seen at 1.2660
Daily: A lot to takeaway in this timeframe:
1. A possible ‘double top’. A break of 1.3118 is needed to confirm
2. Ending . A clear break of 1.3215 is needed. The measured move target is then 1.2745
3. outside day, sometimes highlights the top of a trend.
Intraday (30-minutes) – With intraday signals for sentiment now at oversold extremes, there being a possible 5 wave count near completion and bespoke support at 1.3183, we only look to sell into rallies. Bespoke resistance is seen at 1.3325, close to the middle of the last congestion zone.