Chart: Daily Time Frame
Market: Bearish
1. This is the fourth time daily candles have bounced off 50 EMA (Confirms trend strength/bias)
2. Double top + three inside down candlestick pattern (14th March - 15 March Candles)
3. Price Rejects 1.44450 (key weekly resistance level)
Conclusion:
Blue dotted support line has rejected price once hit,
could cause prices to pullback to roughly 1.42000 before going short.
Target: 1.37900
Risk/Reward: 2.07 : 1
Market: Bearish
1. This is the fourth time daily candles have bounced off 50 EMA (Confirms trend strength/bias)
2. Double top + three inside down candlestick pattern (14th March - 15 March Candles)
3. Price Rejects 1.44450 (key weekly resistance level)
Conclusion:
Blue dotted support line has rejected price once hit,
could cause prices to pullback to roughly 1.42000 before going short.
Target: 1.37900
Risk/Reward: 2.07 : 1