On the monthly TF, we can see that price has rejected 1.3000 with a indicating indecision last month. This month, we've seen some momentum, predominately from fundamental movements pushing us down and potentially forming an if we can close at least 60% into April's candle.
4 weeks ago we had a strong candle rejection our monthly level of 1.300 and this has caused momentum to reverse heading to the downside. MA's are also converging. 2 weeks ago we had another strong candle.
MAs downward facing with clear lower highs and lows supporting a downward bias. Break of the daily TL as another supporting confluence. Yesterday's candle closed as a .
MA's crossed over to the downside with clear lower highs and lows - in alignment with the higher TFs. Rejection off the 50% fib area twice with the most recent producing a . Break of CTL as well as break of weekly level 1.2750 with retest - rejection - continuation.