Price failed by the confluence of horizontal resistance, Monthly PP and Daily R1 along with the Weekly R1. After good US data price tumbled to the lower Kumo Cloud and a test of the Kijun (White line) which has held support this far. A daily close above the Daily S1 is preferred for relieving direct downside pressure for tomorrow. A close below Daily S1 at 1,2389 and more so below the Kumo Cloud and the critical Kijun line will signal further losses for tomorrows session. Overall, on Daily timeframe price has returned right back inside the descending wedge, but as Retail Sentiment has turned bearish since a few days with some margin, chances are we will see a deeper correction from here.
כתב ויתור
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