Lets have a last view before i go sleep.
Observation
1) Uptrend Line - Tested the uptrend line on Jan 14 and rebound slight. WIll need to monitor this on Monday and if break the last supprt at 1.12 run...
2) HH - Formed higher high at 1.29 and retrace back. Previous HIgher low at 1.07
3) MACD- The red signal is chasing up the blue signal, not a good signal because this is show high chances of further bearish
4) RSI - Overbought and now broken down below 70% rsi to retrace further
5) ADX - At high level with strong momentum at 38 and downtrend
Conclusion, high chances of further downside until 1.12 with the current trend and current parameters
No comments:
Post a Comment