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Hi,
Please find below my chart analysis on DAILY and WEEKLY time frames.
Based on DAILY and WEEKLY time frames, we have a strong downtrend defined by channel breakout at 0.935. Also,we see that relatively strong selling interest came into the market 40 pips from above a weekly demand area seen at 0.90 (also 38.2% fib level identified on WEEKLY chart). Price did break above and retest higher 0.90+ levels during the course of last week’s session. The retest was a fake breakout as observed from imm…
Please find below my chart analysis on DAILY and WEEKLY time frames.
Based on DAILY and WEEKLY time frames, we have a strong downtrend defined by channel breakout at 0.935. Also,we see that relatively strong selling interest came into the market 40 pips from above a weekly demand area seen at 0.90 (also 38.2% fib level identified on WEEKLY chart). Price did break above and retest higher 0.90+ levels during the course of last week’s session. The retest was a fake breakout as observed from imm…