Overall the daily downtrend has consumed everyones minds and possibly their accounts. What we're seeing is a retest of 1.16. Now, we've seen this kind of bear candle before (highlighted in box to left) and so what we might expect is some consolidation.
Shorting is confirmed by the type of daily candle set on monday and Longing is confirmed right above the 1.159 area close to 1.16 depending on same conditions.
In the grand scheme of things we can still be shaping a bull flag in the weekly chart, or confirming the H&S pattern in the daily. Oversold levels in RSI and divergence insist on possible shorting for the next coming year.
Shorting is confirmed by the type of daily candle set on monday and Longing is confirmed right above the 1.159 area close to 1.16 depending on same conditions.
In the grand scheme of things we can still be shaping a bull flag in the weekly chart, or confirming the H&S pattern in the daily. Oversold levels in RSI and divergence insist on possible shorting for the next coming year.
