Daily downtrend confirmed.
Can this daily downtrend continue?
Today, a daily downtrend was confirmed by todays close below previous swing low.
Answering this question is difficult because support was broken with a tiny margin.
There is plenty of room for bulls in the weekly timeframe, with the fast ema still above price which could act as support for a possible weekly higher low.
If bulls show up tomorrow with a close above todays high at 1.1049 could be the first sign of a lack of follow through.
Today, a daily downtrend was confirmed by todays close below previous swing low.
Answering this question is difficult because support was broken with a tiny margin.
There is plenty of room for bulls in the weekly timeframe, with the fast ema still above price which could act as support for a possible weekly higher low.
If bulls show up tomorrow with a close above todays high at 1.1049 could be the first sign of a lack of follow through.
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