From first glace at this chart you can see we are in a descending market.
Using the basic Support & Resistance Levels, you can see we are testing a strong level of resistance. In addition to this you can see price wasn't able to break the downtrend and therefore, I do not see any indication of a reversal.
The Stochastic Indicator is also sitting at 55, showing the market has been Bullish and we should see a sell off.
Lastly, I have not yet seen a cross over of the 50 & 100 day moving average. If you have been a member of our team for a while, you will understand how important this cross over is!
@newgenforex on all social media platforms! Please remember to LIKE, COMMENT and FOLLOW for more trade ideas!
Using the basic Support & Resistance Levels, you can see we are testing a strong level of resistance. In addition to this you can see price wasn't able to break the downtrend and therefore, I do not see any indication of a reversal.
The Stochastic Indicator is also sitting at 55, showing the market has been Bullish and we should see a sell off.
Lastly, I have not yet seen a cross over of the 50 & 100 day moving average. If you have been a member of our team for a while, you will understand how important this cross over is!
@newgenforex on all social media platforms! Please remember to LIKE, COMMENT and FOLLOW for more trade ideas!
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.