Overall trend is bearish from daily chart . Spotted several lower low and lower high. Selling pressure is high, buyers power are getting weak. In addition, the candles are below MA200. Bearish engulfing candles spotted in daily timeframe . In the 4h timeframe, the price has been tested several times on the MA50 resistance.Expecting the candle to hit MA50 resistance line and go bearish again towards 1.248 region. The trend is further confirmed by the crossing of MACD which going downwards in 4h timeframe.
Commentaire:
Besides that, sentimental analysis also favors on selling