WEEKLY: Last week a was formed, suggesting a move to the downside, as highs could not be sustained, with an eventual closed below the weekly area of resistance.
DAILY: We have seen 7 days of price action now where price has stalled around 1.3700 region suggesting that the bulls are now exhausting, which in turn is good for short opportunity. We saw a maribozu 5 days ago the previous 4 days worth of price action, then yesterday we saw another bar taking out the prior two days worth of price action.
4HR: We can see that price has rejected off the 61.8% level on the fibonacci 4 times being unable to close above this area. We also have an MA cross to the downside.
2HR: We have a bar taking out the previous 4 hours worth of price action. MA's to the downside.