EA has been in a continous downtrend with no signs of stopping, besides the newly formed support at 1.57200. I suppose if it makes a lower low and breaks it, we can continue riding it down.
Confluence: rejection of the 61.8% fibo level with a big engulfing candle, which also corresponded with the 1.5900 psychological level; downtrend's impulses are getting steeper;
We could have an entry right here, at the rejection the 23% fibo level, but it's too risky.
Confluence: rejection of the 61.8% fibo level with a big engulfing candle, which also corresponded with the 1.5900 psychological level; downtrend's impulses are getting steeper;
We could have an entry right here, at the rejection the 23% fibo level, but it's too risky.
Ordre annulé:
Price has made a higher high, so this setup is no longer valid.