We are looking for a swing trade so I will utilize the weekly and 4 hour timeframes to make my decisions. On the weekly timeframe we look for three things in particular which are our key levels, patterns and candlestick analysis. On the 4 hour timeframe we focus on using most of our technicals which is including fibonacci, support and resistance , supply and demand zones, market structure, candlestick analysis etc.
On the weekly timeframe we can clearly see that price continued with its bearish trend heading to the downside. It ended last week with a lot of rejection so it is finding support at the current level that we are at. We should look to see how it reacts to the 1.3600 level before it heads lower.
On the H4 timeframe we can see that clearly it is in a downtrend. We bring on the fibonacci tool and can clearly see we have confluence at the 1.3600 level. If price comes up to this zone and shows rejection then we will short it.
On the weekly timeframe we can clearly see that price continued with its bearish trend heading to the downside. It ended last week with a lot of rejection so it is finding support at the current level that we are at. We should look to see how it reacts to the 1.3600 level before it heads lower.
On the H4 timeframe we can see that clearly it is in a downtrend. We bring on the fibonacci tool and can clearly see we have confluence at the 1.3600 level. If price comes up to this zone and shows rejection then we will short it.