129.3 support level support has been broken. You can see from previous price action that this is a key level. I am expecting a retest of this level before a continuation to the downside.
First downside target is 128.00 but i believe if this level is broken price can continue to fall well below this level.
AFTER FAILING TO MAKE HIGHER HIGH'S PRICE HAS SINCE CREATED A LOWER LOW AND LOWER HIGH AS WELL AS BREAKING WELL SUPPORTED TRENDLINE. I BELIEVE PRICE HAS DOWNSIDE POTENTIAL TO HIT MONTHLY SUPPORT CONFLUENT WITH -61.8 EXT FIB
LONG LONG LONG
Long term charts i.e weekly and daily charts are showing bullish price action and patterns that shouldn't be ignored. I believe longer term this pair could hit 0.7896
After a lower high being established on the H4 i think we are in for a pullback down to key monthly level 0.7366 where we will then show bullish momentum.
BIGGER PICTURE RULES ALL
ON THE WEEKLY AND DAILY WE HAVE SEEN A HIGHER HIGH WITH TWO HIGHER LOWS!
IF PRICE BREAKS THE DAILY CTL WE COULD POSSIBLY GO UP TO THE MONTHLY RES AND IF THAT LEVEL BREAKS FURTHER ABOVE
HOWEVER ON THE H4 WE HAVE DEVELOPED LOWER HIGHS AND LOWER LOWS (HIT THE 78.6 FIB AND BOUNCED OF IT, DID NOT CLOSE BELOW IT) WHICH COULD ULTIMATELY BE A ...
SHORT SHORT SHORT IS MY BIAS
HOWEVER, CURRENTLY AT A KEY SUPPORT LEVEL WHERE I EXPECT PROFITS WILL BE TAKEN! PRICE IS CURRENTLY INA 4 HR RANGE AND IM EXPECTING PRICE TO PULLBACK FURTHER BEFORE WE SEE FURTHER CONTINUATION TO THE DOWNSIDE.