Price is approaching our first resistance at 1.3988 (horizontal overlap resistance) and a strong reaction might occur below this level, pushing price down to our major support at at 1.3743 (horizontal swing low support, 100% Fibonacci extension, 23.6% Fibonacci retracement). A breakout below our intermediate support at 1.3914 (horizontal overlap support) might provide the bearish acceleration to our major support level. Ichimoku cloud is also showing signs of bearish pressure, in line with our bearish bias.
RSI (89) is also seeing a bearish exit, a good precursor for a potential drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (89) is also seeing a bearish exit, a good precursor for a potential drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Join Now and Unlock Your Free TradingView Subscription: tickmill.link/3RKXvWm
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.