The Market continues downtrend since this week opening hours and successfully closes the empty zone bringing more Sellers into the market until the price bounces right where there are many Buyers positions accumulated.
The empty zone was smoothly closed by downtrend to attract more Sellers get into the market. Those are sell traders who trade based on trend analysis filling some specific level which are at 1.0947 and 1.0914. There are still many possibilities for Sellers to fill more positions if the Market decides to be sideway. In the other side, the price bounces at the level where Buyers accumulating their positions at 1.0839 means The Market wants to convince Buyers that the level could be a new support level, so they will add more and more positions before get stopped out by The Market.
For prediction, The Market is still going down to convince the Sellers that the trend is just begun but it will wait for the Buyers to add their positions until the right volumes to be stopped out.
The empty zone was smoothly closed by downtrend to attract more Sellers get into the market. Those are sell traders who trade based on trend analysis filling some specific level which are at 1.0947 and 1.0914. There are still many possibilities for Sellers to fill more positions if the Market decides to be sideway. In the other side, the price bounces at the level where Buyers accumulating their positions at 1.0839 means The Market wants to convince Buyers that the level could be a new support level, so they will add more and more positions before get stopped out by The Market.
For prediction, The Market is still going down to convince the Sellers that the trend is just begun but it will wait for the Buyers to add their positions until the right volumes to be stopped out.
