From first glace at this chart you can see we are in a descending market.
Using the basic Support & Resistance Levels, you can see we are testing a strong level of resistance. In addition to this you can see price wasn't able to break the downtrend and therefore, I do not see any indication of a reversal.
The Stochastic Indicator is also sitting at 55, showing the market has been Bullish and we should see a sell off.
Lastly, I have not yet seen a cross over of the 50 & 100 day moving average. If you have been a member of our team for a while, you will understand how important this cross over is!
@Xpressforex on all social media platforms! Please remember to LIKE, COMMENT and FOLLOW for more trade ideas!
Using the basic Support & Resistance Levels, you can see we are testing a strong level of resistance. In addition to this you can see price wasn't able to break the downtrend and therefore, I do not see any indication of a reversal.
The Stochastic Indicator is also sitting at 55, showing the market has been Bullish and we should see a sell off.
Lastly, I have not yet seen a cross over of the 50 & 100 day moving average. If you have been a member of our team for a while, you will understand how important this cross over is!
@Xpressforex on all social media platforms! Please remember to LIKE, COMMENT and FOLLOW for more trade ideas!