Hi Traders!
The market is, on this Timeframe, in a Downtrend.
In our view, there are two possible scenarios of how the market could move:
If you have anything to add or a different point of view, feel free to comment!
Thanks and successful Trading :-)!
The market is, on this Timeframe, in a Downtrend.
In our view, there are two possible scenarios of how the market could move:
- It reaches the Weekly Resistance, then it turns back down --> Down
- It reaches the Weekly Resistance, retraces and shoots further up --> Up
However, we have these technical factors which could affect the price:
- Weekly descending Wedge
- Weekly Resistance @ 1.37
- Daily Resistance Area
- Potential 4-hourly Trendline
- Potential developing Divergence
If you have anything to add or a different point of view, feel free to comment!
Thanks and successful Trading :-)!
