This pair is on clear downtrend, we can see the series of LH, LL forming.
Price made a last pullback to the 0.61 fib and found strong resistance there, suggesting the decline will continue.
We have also:
- bearish hidden divergence on MACD
- RSI trendline broken
- mutiple candlesticks rejecting the zone
- triple top with divergence (H4 chart)
- bearish shark (H4 chart)
Best regards.
*****************DISCLAMER********************************************************************
Always do your own analysis before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).
Follow me on Twitter for updates: @fxtrader2000
Price made a last pullback to the 0.61 fib and found strong resistance there, suggesting the decline will continue.
We have also:
- bearish hidden divergence on MACD
- RSI trendline broken
- mutiple candlesticks rejecting the zone
- triple top with divergence (H4 chart)
- bearish shark (H4 chart)
Best regards.
*****************DISCLAMER********************************************************************
Always do your own analysis before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).
Follow me on Twitter for updates: @fxtrader2000