currencypros

currencypros

As price has been respecting a clear uptrend, I am anticipating one last bullish push toward major resistance. The highest probability scenario would be for price to break through current structure and retest it as support, creating another higher low before gaining more bullish momentum.

currencypros

As price impulsively broke the ascending trend line, we can now anticipate a pull-back before bearish continuation. Using the fibonacci tool we can see that anywhere between the 50% - 61.8% levels would involve the most confluence as they line up nicely with the last higher low of the previous uptrend, as well as the uptrend line itself. If price can retest this...

currencypros

As price respects its higher time frame uptrend, we have a lower time frame break and re-test with a massive wick rejection showing potential bullish momentum regaining to the upside.

currencypros

After impulsively breaking the uptrend structure, price retraced and rejected from the 61.8% fibonacci level. It seems as though price is now gaining further bullish momentum which leads me to believe a 2nd confirmation is necessary. I am anticipating a Double Top formation at the 61.8% level before price continues bearish impulsive momentum.