Market is random till a certain point... until is manipulated.
Using the Volume Indicator I noticed a spike of selling pressure on 16 March 2020. That red spike can be caused only by big institutions, we retail traders don't have the power neither the resources to do that.
I suspect that sooner they going to close that position and we will notice then a buying candle with the same amount of volume that can be a sign of a reversal.
To notice that the price after that, touched the resistance at 1.225 and retest that level at 1.0775 and exactly at that point we assisted a start of a descending channel. Eveyone is calling for a crash, but we may soon assist a rally.
I see 1.40 as target once that start. Good trade everyone!
Using the Volume Indicator I noticed a spike of selling pressure on 16 March 2020. That red spike can be caused only by big institutions, we retail traders don't have the power neither the resources to do that.
I suspect that sooner they going to close that position and we will notice then a buying candle with the same amount of volume that can be a sign of a reversal.
To notice that the price after that, touched the resistance at 1.225 and retest that level at 1.0775 and exactly at that point we assisted a start of a descending channel. Eveyone is calling for a crash, but we may soon assist a rally.
I see 1.40 as target once that start. Good trade everyone!