Possible retracement @ 0.7450 before bearish bias continues
If 0.7450 resistance level will be broken, the next resistance level will be @ 0.7530 followed by 0.7580
R3 - 0.7580
R2 - 0.7530
R1 - 0.7450
S1 - 0.7265
S2 - 0.7185
S3 - 0.7130
Price Action - previous candle (in W1) formed bearish engulfing the opened by a huge gap.
MACD - still in bullish formation
RSI - still in bullish formation
this near-term bearishness is possibly a correction or consolidation for what might be a long-term bullish run.
Price Action - Bullish engulfing with another bullish candle. A break (on D1) above 1.1096 is a strong bullish breakout
MACD - Below the 0 (center line), but is weakening. Thus, this may signal bullish continuation
RSI - Above 50 and a lot more room for bullish move