The market is ranging between Daily zone 1.1900 and Weekly zone 1.16200.
The market has made multiple retests of the 1.1900 area/zone and failed to break it: bearish indication.
We are looking for a break below the previous 4hr low to indicate the start of a downtrend.
Confirmation: 1hr strong bearish marubozu, bearish engulfing, etc. below the 4hr zone.
Trade: Trade at the close of candle which breaks below zone.
The market has made multiple retests of the 1.1900 area/zone and failed to break it: bearish indication.
We are looking for a break below the previous 4hr low to indicate the start of a downtrend.
Confirmation: 1hr strong bearish marubozu, bearish engulfing, etc. below the 4hr zone.
Trade: Trade at the close of candle which breaks below zone.