Structure: Upward
Moving Average: 15 EMA supporting Price, expect to retest 200 SMA
Trendline: Short Term Uptrend Line Broken
Pattern: Strong Rejection Candles around 1.32, possible forming Head & Shoulder
Trigger: 2 attempts to break 1.32 failed, with large bearish candles yesterday, showed that bull power may have ran out of steam
Support: 1.3125, 1.3100, 1.3030
Resistance: 1.3200
After a huge rebound from 1.30 support, the pair stopped at 1.32, which is a previous Head & Shoulder neckline resistance.
It is likely completed a 5-wave upward move, and starting a ABC correction move.
With the relatively large downside potential, it is a good consideration to short here with small SL. Of course, wait for 1H rejection bearish candle.
Entry Area: 1.3175 - 1.3185
SL: 1.3210
1st Target: 1.3100
2nd Target: 1.3030
Moving Average: 15 EMA supporting Price, expect to retest 200 SMA
Trendline: Short Term Uptrend Line Broken
Pattern: Strong Rejection Candles around 1.32, possible forming Head & Shoulder
Trigger: 2 attempts to break 1.32 failed, with large bearish candles yesterday, showed that bull power may have ran out of steam
Support: 1.3125, 1.3100, 1.3030
Resistance: 1.3200
After a huge rebound from 1.30 support, the pair stopped at 1.32, which is a previous Head & Shoulder neckline resistance.
It is likely completed a 5-wave upward move, and starting a ABC correction move.
With the relatively large downside potential, it is a good consideration to short here with small SL. Of course, wait for 1H rejection bearish candle.
Entry Area: 1.3175 - 1.3185
SL: 1.3210
1st Target: 1.3100
2nd Target: 1.3030
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.