M1 : Ongoing bearish (yield) donwtrend in progress !
W1 : Currently below TS and still above MBB. Watch 1.4840 ahead
of 1.3240, the latter being the key pivot levels on this time frame.
D1 : Roughly in the middle level of an ongoing donwtrend channel, within the clouds
Watch carefully at the bottom of the clouds. A daily closing below the clouds (around
the 1.5000 area) would be the first warning signal, calling for further downside
H4 : Failure to hold above the clouds triggered a sharp downside move which went very quickly
below the clouds to a low so far of 1.5520 !!!
H1 : Below the clouds, no trend reversal signal yet
M30 : Same than H1, trying to upside breakout TS without success for the time being.
M15 : MBB working well so far as the first resistance level to break on the upside
M5 : Below the clouds
CONCLUSION :
BROAD PICTURE REMAINS GLOBALLY BEARISH CALLING FOR LOWER LEVELS TOWARDS THE 1.30 AREA !
WARNING , A BREAKOUT CONFIRMATION OF THE 1.3000 AREA WOULD BE SEEN AS NEGATIVE, CALLING FOR
FURTHER DOWNSIDE TOWARDS THE 1.15% AREA (50 % FIB RET) AHEAD OF THE 1.00% (61.8 % FIB RET)
ONLY A SUSTAINABLE RECOVERY ABOVE THE FORMER HIGH @ 1.7740 WOULD FORCE TO A VIEW REASSESSMENT
OF THE BEARISH EXPECTED SCENARIO.
Have a nice Sunday, have fun !
Take care
All the best.
And if you find my analysis valuable for you, pls do not forget to like it and if you do not follow me yet, please add Ironman8848
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Ironman8848
W1 : Currently below TS and still above MBB. Watch 1.4840 ahead
of 1.3240, the latter being the key pivot levels on this time frame.
D1 : Roughly in the middle level of an ongoing donwtrend channel, within the clouds
Watch carefully at the bottom of the clouds. A daily closing below the clouds (around
the 1.5000 area) would be the first warning signal, calling for further downside
H4 : Failure to hold above the clouds triggered a sharp downside move which went very quickly
below the clouds to a low so far of 1.5520 !!!
H1 : Below the clouds, no trend reversal signal yet
M30 : Same than H1, trying to upside breakout TS without success for the time being.
M15 : MBB working well so far as the first resistance level to break on the upside
M5 : Below the clouds
CONCLUSION :
BROAD PICTURE REMAINS GLOBALLY BEARISH CALLING FOR LOWER LEVELS TOWARDS THE 1.30 AREA !
WARNING , A BREAKOUT CONFIRMATION OF THE 1.3000 AREA WOULD BE SEEN AS NEGATIVE, CALLING FOR
FURTHER DOWNSIDE TOWARDS THE 1.15% AREA (50 % FIB RET) AHEAD OF THE 1.00% (61.8 % FIB RET)
ONLY A SUSTAINABLE RECOVERY ABOVE THE FORMER HIGH @ 1.7740 WOULD FORCE TO A VIEW REASSESSMENT
OF THE BEARISH EXPECTED SCENARIO.
Have a nice Sunday, have fun !
Take care
All the best.
And if you find my analysis valuable for you, pls do not forget to like it and if you do not follow me yet, please add Ironman8848
in your following list
Many thanks in advance
Regards
Ironman8848
