Good evening ladies and gents.
Right now on the D chart, I see a retest of the previously broken support line which is now acting as a support line again....this support line has been tested many times but has been broken in recent movement.
Waiting for a buy stop to activate and take profit around the 5.700 region and put the stop loss at around 5.33945
Price appears to be in a downtrend for the foreseeable future. Price has declined since a bearish pin bar formed off the 200sma in my bearish zone on the daily tf. Price also most recently broke minor support on the daily tf. Hoping for a retest and continuation to get in short to next daily minor support.
I have a bearish bias but price might touch 2008/9 highs i don't know yet. Major uptrend and buying shows other wise. If 0.88400 level is broken which hasn't been done yet i would be careful, it did kiss that level yesterday and may be retested. I'll wait till next week but this is definitely on the watch list.