Sliding below Lower High levels. Short

9 Jun 2018

ADAUSD comlies perfectly to the commanding 1D Channel Down (RSI = 42.754, MACD = -0.015, B/BP = -0.0151) selling pressure. From May 10 until May 31, it's been trading on the lower half of the Channel and now we see it above the PP. This doesn't alter our bearish target (TP 0.1443) as 4H has already started to descend (neutral RSI, ADX, CCI, Highs/Lows to bearish STOCH, MACD, UO, ROC) following the latest rise to a Lower High. Eventually a test of the 1W support = 0.1217 will take place.