1 Month
Monthly key level has been tested a few times, showing a lot of rejection.
1 Week
bulling engulfing at the same Monthly support level .
1 Day
Lower highs have been formed and also rejection of the trend line .
4 Hour
I have previously traded on this pair but got hit by news event which stopped me out. This time the market has formed a shooting star at fib line 78.60% indicating a reversal to carry on the down trend.
i have placed my stop loss a lot higher this time around to compensate for the next news event today at 1800.