Price cleared the channel top with an impulsive move
and is now stalling by the confluence resistance at 1,15
(Yearly S1 & Monthly PP.) Since this is strong resistance
we might see a pause here until NFP release on friday.
Either way, the ultimate target of a rally has to be Monthly R1
since R1 should hold a retracement on higher timeframe
in a bearish trend.
Resistance:
Weekly R2 1,1590
Daily Kijun Sen /Fibo 1,1640/1,1660
Weekly R3/SMA200 1,1760-90
Monthly R1 1,1884
Support
Weekly R1/Daily PP 1,1440
Kijun Sen/Kumocloud 1,1385-95
Trendline
Weekly PP 1,1305
and is now stalling by the confluence resistance at 1,15
(Yearly S1 & Monthly PP.) Since this is strong resistance
we might see a pause here until NFP release on friday.
Either way, the ultimate target of a rally has to be Monthly R1
since R1 should hold a retracement on higher timeframe
in a bearish trend.
Resistance:
Weekly R2 1,1590
Daily Kijun Sen /Fibo 1,1640/1,1660
Weekly R3/SMA200 1,1760-90
Monthly R1 1,1884
Support
Weekly R1/Daily PP 1,1440
Kijun Sen/Kumocloud 1,1385-95
Trendline
Weekly PP 1,1305
