Price has entered the Cloud and tested the lower end of it
by producing two clean dojis. Previous close was above the
new Weekly pivot point. The situation is similar to Bitcoin/usd
but slightly more bullish. If price advance and close above the
smaller Flag channel we might see a breakout from the Cloud as we
also see a bullish Cloud twist. Only a close below the Cloud and
the Daily S1 at 1.26 will shift bias to the downside from here.
If price fails to breach the Flag channel, we will likely have another
test of the bottom of the Cloud and the Weekly pivot point (1.367).
A sharp move up will find resistance by the Weekly R1 at 1.865
by producing two clean dojis. Previous close was above the
new Weekly pivot point. The situation is similar to Bitcoin/usd
but slightly more bullish. If price advance and close above the
smaller Flag channel we might see a breakout from the Cloud as we
also see a bullish Cloud twist. Only a close below the Cloud and
the Daily S1 at 1.26 will shift bias to the downside from here.
If price fails to breach the Flag channel, we will likely have another
test of the bottom of the Cloud and the Weekly pivot point (1.367).
A sharp move up will find resistance by the Weekly R1 at 1.865
評論:
The sell of today was very timely, counteracting the technical picture. Such things happens and now price is finding some supportby the daily S2 pivot below the Cloud, Overall, the trend shift bearish and price needs to return inside the Cloud or else it will be under continued pressure going forward. A first sign of relif will be a close above the Weekly pivot point at 1.368. If current low is breached chances are we will see another test of the 0.875 low.
