As mentioned in previous post, price could test and bounce by
the confluence resistance 1,1060-80, which also happened today.
Price is now trading below Daily S1 and is close to testing the
trendline and 3/8 fib of CD leg.
Retail Sentiment remains net short and chances are the trendline
will give support. If so, the D-level will be in play at 1,12.
Current daily close below S1, may hint further downside tomorrow,
A break of the trendline and breaching of the kumocloud and close
below Weekly PP at 1,0770 will shift bias to the downside
the confluence resistance 1,1060-80, which also happened today.
Price is now trading below Daily S1 and is close to testing the
trendline and 3/8 fib of CD leg.
Retail Sentiment remains net short and chances are the trendline
will give support. If so, the D-level will be in play at 1,12.
Current daily close below S1, may hint further downside tomorrow,
A break of the trendline and breaching of the kumocloud and close
below Weekly PP at 1,0770 will shift bias to the downside