We are in a downward trend.
KUMO is facing down, SSA is facing down.
SSB flat and will be for some time, as long as the new MINIMUM in the period 52 is not broken.
Flat SSB can substantially impact the PRICE (attracting it to itself), which can further strengthen SUPPORT AREA A (the area between 1.05349 and 1.045283).
CHIKOU SPAN is also approaching SUPPORT AREA A and in the Week 1 chart of the SSB line, which additionally strengthening the support zone.
The critical moment will be the breakthrough of SUPPORT ZONE A; the PRICE after a possible retest of the zone will move towards TP1 (ranges N and V levels 1.04552 and 1.04336 respectively).
The next TP2 is set to range E, which coincides with the next level of support.
The rebound (possibly even several times) of the PRICE from SUPPORT AREA A negates the above scenario. It will cause the PRICE to consolidate, which may change the direction of movement (trend).
KUMO is facing down, SSA is facing down.
SSB flat and will be for some time, as long as the new MINIMUM in the period 52 is not broken.
Flat SSB can substantially impact the PRICE (attracting it to itself), which can further strengthen SUPPORT AREA A (the area between 1.05349 and 1.045283).
CHIKOU SPAN is also approaching SUPPORT AREA A and in the Week 1 chart of the SSB line, which additionally strengthening the support zone.
The critical moment will be the breakthrough of SUPPORT ZONE A; the PRICE after a possible retest of the zone will move towards TP1 (ranges N and V levels 1.04552 and 1.04336 respectively).
The next TP2 is set to range E, which coincides with the next level of support.
The rebound (possibly even several times) of the PRICE from SUPPORT AREA A negates the above scenario. It will cause the PRICE to consolidate, which may change the direction of movement (trend).