D1 : Recent price action is showing a trend reversal in progress.
Indeed, last Friday a "doji" (uncertainty and indecision) took place which
has been followed yesterday by a bearish engulfing pattern !
Today's ongoing price action continue to move to the downside.
Watch carefully the Tenkan-Sen or Conversion Line, currently @ 1.6140
as the first important support and last but not least, at the MID BOLLINGER
BAND, "T H E L E A D I N G I N D I C A T O R", currently @ 1.5620 as a pivot
level for the ongoing session (s)
If you find my analysis valuable for your trading, please do not forget to like and follow me
Have a nice trading day
All the best
Ironman8848
Indeed, last Friday a "doji" (uncertainty and indecision) took place which
has been followed yesterday by a bearish engulfing pattern !
Today's ongoing price action continue to move to the downside.
Watch carefully the Tenkan-Sen or Conversion Line, currently @ 1.6140
as the first important support and last but not least, at the MID BOLLINGER
BAND, "T H E L E A D I N G I N D I C A T O R", currently @ 1.5620 as a pivot
level for the ongoing session (s)
If you find my analysis valuable for your trading, please do not forget to like and follow me
Have a nice trading day
All the best
Ironman8848
In addition the first support (Tenkan-Sen & Conversion line) has been broken.
As mentioned yesterday, the main and most important support level to watch at now is the Mid Bollinger Band, currently @ 1.5710. A daily closing below that point would open the door for lower level towards 1.50 (Kijun-Sen) ahead of 1.3860 former congestion support zone.