On the weekly timeframe we can see last week we had the rejected as anticipated from the 157.000 level. Now we are anticipating more downside movement but we have to wait for a good zone of resistance to move off of.
On the H4 timeframe we are clearly in a downtrend. In order for me to consider taking short opportunities I would need for price to come up all the way to the 155.500 area which lines up with 61.8% on the fibonacci.
On the H4 timeframe we are clearly in a downtrend. In order for me to consider taking short opportunities I would need for price to come up all the way to the 155.500 area which lines up with 61.8% on the fibonacci.