Market is within a downtrend structure.
Market reacting to resistance trendline making lower highs on the way down to lower trendline support.
According to monthly TF market is bearish.
According to daily TF we forming a new lower high with an ascending triangle on 1 Hour TF (bearish signal). Should market break bearish it will be a good time to enter short.
Market also giving RSI divergence on 1 Hr TF to resistance levels.
According to fundamental research market in favour of the US dollar therefore I am anticipating the fall towards Fib target 1.01991
Looking for break of ascending triangle and will end counter trend breaks bearish on lower timeframe towards Fib target.
Market reacting to resistance trendline making lower highs on the way down to lower trendline support.
According to monthly TF market is bearish.
According to daily TF we forming a new lower high with an ascending triangle on 1 Hour TF (bearish signal). Should market break bearish it will be a good time to enter short.
Market also giving RSI divergence on 1 Hr TF to resistance levels.
According to fundamental research market in favour of the US dollar therefore I am anticipating the fall towards Fib target 1.01991
Looking for break of ascending triangle and will end counter trend breaks bearish on lower timeframe towards Fib target.