In order to make this call I used three different types of indicators, trend confirmation (MACD), trend (EMA), and predictive indicator (Pivot Points). Two daily pivots were created a couple of days earlier, yet were completely skipped by the candlesticks. In case you didn't know, pivot points can be considered like some kind of gravity for candlesticks, they will always try to be reached by them, and if skipped it will meet them later on. Altogether meaning those two pivot points which were skipped earlier on will in fact be crossed by the price line sooner or earlier, in our case very soon; indicating a possible down trend. MACD lines also crossed along with a kind of "alligator" indicator, personalized to use 4 EMA's and rely more on the current trend. This two other signals support the idea the pair is starting a reversal point until it meets its second pivot point again, which is around 1.6546.
Have in mind, this is an early entry because the EMA "alligator" has yet to completely cross in order to give us a safe signal. However, the other two indicators do indicate a further going downtrend.
NOTE: Follow my predictions under your own risk. I apreciate all constructive feedback and support on how to improve. Thank you.
Have in mind, this is an early entry because the EMA "alligator" has yet to completely cross in order to give us a safe signal. However, the other two indicators do indicate a further going downtrend.
NOTE: Follow my predictions under your own risk. I apreciate all constructive feedback and support on how to improve. Thank you.