March saw new 10 year lows of around 0.57 and week 20 saw a candle of week 20. So far this week there has been strong momentum up to a daily of 0.6145
Yesterday price tested the resistance range around 0.6145 again for the 3rd time in the last 21 days. Look to lower timeframes to find entry opportunity for short
At this timeframe level we can see a supporting trendline up toward the daily .
IF there is a break of this trendline to the downside
THEN I will make enter a short trade IF there is a retest of a previous local level.
However - IF a daily candle closes above the resistance range THEN price may move to the upside and this trade idea will be invalid.
Target 1 : 0.601
Target 2 : 0.5925