Price Action: Bearish
Pattern: Break and retest of DS
Long-Term Momentum: Bearish
Short-Term Momentum: *Bearish
Bias: Short
Action: Sell until the 1.17160 level is hit then close all trades as price needs to make a correction before moving down further.
Comments: Strong sell side action with no real correction. Chances are once price reaches S it will reverse back to DS where it will hopefully test 29 EMA. Need to watch 4H for shorter term sentiment.
Pattern: Break and retest of DS
Long-Term Momentum: Bearish
Short-Term Momentum: *Bearish
Bias: Short
Action: Sell until the 1.17160 level is hit then close all trades as price needs to make a correction before moving down further.
Comments: Strong sell side action with no real correction. Chances are once price reaches S it will reverse back to DS where it will hopefully test 29 EMA. Need to watch 4H for shorter term sentiment.