Price seems to have fallen really hard, again with this analysis nothing is 100% certain due to fundamentals being a key decider of which way the markets are going at the moment.
I can clearly see a down trend at the moment, one thing that really interested me is that price has broke back into it's mean value area, where it previously consolidating and struggled to break which was between 1590-1548.. Once it broke it pushed heavy up wards, the fact it's broke back in to me would either mean it's a fake out or it's going to push a little more down wards before returning to the peak of the range before pushing down further *this is an intra day*. The 200ema is still pointing up wards, before I enter I want to either see price open on Sunday 11pm way below then retest the peak or create a lower high :)
I can clearly see a down trend at the moment, one thing that really interested me is that price has broke back into it's mean value area, where it previously consolidating and struggled to break which was between 1590-1548.. Once it broke it pushed heavy up wards, the fact it's broke back in to me would either mean it's a fake out or it's going to push a little more down wards before returning to the peak of the range before pushing down further *this is an intra day*. The 200ema is still pointing up wards, before I enter I want to either see price open on Sunday 11pm way below then retest the peak or create a lower high :)