D1 : Double top in progress, coupled with a bearish engulfing pattern (which should be confirmed on a closing basis !)
In addtion technical indicators are showing bearish divergences...
Watch MBB and TS @ 1.0960 as leading indicators for further development.
Indeed, a failure to hold above the 1.1000 area would directly put the focus on 1.0460 (KS) ahead of the trigger level
of the double top @ 0.9960. (also clouds support area !)
A breakout of the latter level would open the door for 0.7960 (double top target)
Warning : Stop and reverse @ 1.29 !
Watch also ongoing price action on W1, currently facing a tough clouds resistance to break !
In addtion technical indicators are showing bearish divergences...
Watch MBB and TS @ 1.0960 as leading indicators for further development.
Indeed, a failure to hold above the 1.1000 area would directly put the focus on 1.0460 (KS) ahead of the trigger level
of the double top @ 0.9960. (also clouds support area !)
A breakout of the latter level would open the door for 0.7960 (double top target)
Warning : Stop and reverse @ 1.29 !
Watch also ongoing price action on W1, currently facing a tough clouds resistance to break !