We have broken below the channel and retested unsuccessfully and also broken the minor support at around 1.32 and now testing the 0.618 which we pierced but bounced slightly on the 200EMA.
We crossed below the trigger line on the MACD but getting closer to oversold on the RSI, however there is still space for some downward move.
We may see a short-term move up as we have lost contact with the lower Bollinger band but I foresee some more drop as we are below the Ichimoku and that indicates a downtrend.
A close above the 100EMA and previous support at around 1.32 - 1.34 will invalidate this.
Not financial advise.
We crossed below the trigger line on the MACD but getting closer to oversold on the RSI, however there is still space for some downward move.
We may see a short-term move up as we have lost contact with the lower Bollinger band but I foresee some more drop as we are below the Ichimoku and that indicates a downtrend.
A close above the 100EMA and previous support at around 1.32 - 1.34 will invalidate this.
Not financial advise.
Comment:
Closed above and thus invalidated the short-term move down. Just consolidating between the 1.3 to 1.4 range at the moment.
